Is software a fixed asset or an expense?

Open in App

Solution

Any software built from scratch or new functionality is added to the existing software then it falls under the fixed assets, and expenses are charged accordingly under capital assets.

Also see:

What Are Current Assets?

Fixed Assets Vs Current Assets

Suggest Corrections

Similar questions

Installation charges of fixed assets are considered as expenses is an error of ________________

Under which depreciation method the amount of depreciation expense remains same throughout the useful life of a fixed asset?

Join BYJU'S Learning Program