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Describes the correct way to amortize capitalized costs

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Problem 1: Atlantis Travel, Inc., internally developed computer software for its reservations system. Atlantis correctly capitalized $136,500 for coding, testing, and payroll costs related to this software. The project was completed during the year and is expected to have a 5-year useful life. The CFO wants to know the correct way to amortize capitalized costs incurred from producing computer software. Which section of the authoritative guidance best describes the correct way to amortize capitalized costs incurred from producing computer software?

Reference no: EM132998201

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