KNDL » Topics » Internally Developed Software

These excerpts taken from the KNDL 10-K filed Mar 16, 2009.
Internally Developed Software
 
Pursuant to the guidance included in Statement of Position 98-1, “Accounting for the Costs of Computer Software Developed or Obtained for Internal Use”, the Company capitalizes costs incurred to internally develop software used primarily in the Company’s proprietary clinical trial and data management systems, and amortizes these costs over the useful life of the product, not to exceed five years. Internally developed software represents software in the application development stage, and there is no assurance that the software development process will produce a final product for which the fair value exceeds its carrying value. Internally developed software is an intangible asset subject to impairment write-downs whenever events indicate that the carrying value of the software may not be recoverable. As with other long-lived assets, this asset is reviewed at least annually to determine the appropriateness of the carrying value of the asset and the estimated useful lives. Assessing the fair value of the internally developed software requires estimates and judgment on the part of management. As discussed in Note 1 to the Consolidated Financial Statements, internally developed software is amortized over its estimated useful life of five years. The Company believes the useful life established remains reasonable.
 
Internally
Developed Software



 



Pursuant to the guidance included in Statement of Position
98-1,
“Accounting for the Costs of Computer Software Developed or
Obtained for Internal Use”, the Company capitalizes costs
incurred to internally develop software used primarily in the
Company’s proprietary clinical trial and data management
systems, and amortizes these costs over the useful life of the
product, not to exceed five years. Internally developed software
represents software in the application development stage, and
there is no assurance that the software development process will
produce a final product for which the fair value exceeds its
carrying value. Internally developed software is an intangible
asset subject to impairment write-downs whenever events indicate
that the carrying value of the software may not be recoverable.
As with other long-lived assets, this asset is reviewed at least
annually to determine the appropriateness of the carrying value
of the asset and the estimated useful lives. Assessing the fair
value of the internally developed software requires estimates
and judgment on the part of management. As discussed in
Note 1 to the Consolidated Financial Statements, internally
developed software is amortized over its estimated useful life
of five years. The Company believes the useful life established
remains reasonable.


 




Internally
Developed Software



 



Pursuant to the guidance included in Statement of Position
98-1,
“Accounting for the Costs of Computer Software Developed or
Obtained for Internal Use”, the Company capitalizes costs
incurred to internally develop software used primarily in the
Company’s proprietary clinical trial and data management
systems, and amortizes these costs over the useful life of the
product, not to exceed five years. Internally developed software
represents software in the application development stage, and
there is no assurance that the software development process will
produce a final product for which the fair value exceeds its
carrying value. Internally developed software is an intangible
asset subject to impairment write-downs whenever events indicate
that the carrying value of the software may not be recoverable.
As with other long-lived assets, this asset is reviewed at least
annually to determine the appropriateness of the carrying value
of the asset and the estimated useful lives. Assessing the fair
value of the internally developed software requires estimates
and judgment on the part of management. As discussed in
Note 1 to the Consolidated Financial Statements, internally
developed software is amortized over its estimated useful life
of five years. The Company believes the useful life established
remains reasonable.


 




EXCERPTS ON THIS PAGE:

10-K (3 sections)
Mar 16, 2009
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