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CRM & Accounting + ERP

ASC 985-20: Post-Implementation Journal Entries for Software Costs

Posted In | ASC Education | Gridlex Academy

Accounting Standards Codification (ASC) 985-20, Capitalization of Software Costs, provides guidance on the accounting treatment of software costs, particularly during the post-implementation stage. This standard is essential for entities developing or acquiring software for internal use, as it ensures consistent accounting treatment for these transactions. In this article, we will discuss the key aspects of ASC 985-20 and provide examples of journal entries to illustrate the accounting treatment of software costs during post-implementation activities.

ASC 980-20: Cost of Service Revenue Journal Entries

Posted In | ASC Education | Gridlex Academy

Accounting Standards Codification (ASC) 980-20, Regulated Operations - Measurement Focus, provides guidance on the accounting for revenue recognition in the context of cost of service regulation. This standard is crucial for entities operating in regulated industries, such as utilities and telecommunications, where rates are set by regulatory authorities. In this article, we will discuss the key aspects of ASC 980-20 and provide examples of journal entries to illustrate the accounting treatment of cost of service revenue recognition transactions.

ASC 805-740: Deferred Tax Liability Transactions & Journal Entries Explained

Posted In | ASC Education | Gridlex Academy

The Accounting Standards Codification (ASC) 805-740, also known as the Business Combinations - Income Taxes, is a comprehensive guidance on how to account for income taxes in business combinations. This article focuses on the deferred tax liability transactions arising from a business combination, breaking down the process with relevant journal entries to help you understand the intricacies of ASC 805-740.

ASC 505-50: Non-Employee Equity-Based Payments & Journal Entries Explained

Posted In | ASC Education | Gridlex Academy

Accounting Standards Codification (ASC) 505-50, "Equity - Equity-Based Payments to Non-Employees," provides guidance on the accounting treatment for share-based payment transactions involving non-employees, such as consultants or independent contractors. This article explains the key provisions of ASC 505-50, its application, and the relevant journal entries for recognizing share-based compensation expense related to equity-based payments to non-employees.

ASC 420: Explaining Restructuring Liability Transactions & Journal Entries

Posted In | ASC Education | Gridlex Academy

Accounting Standards Codification (ASC) 420, "Exit or Disposal Cost Obligations," provides guidance on the accounting treatment for costs associated with exit or disposal activities, such as restructuring initiatives or business closures. This article explains the key provisions of ASC 420, its application, and the relevant journal entries for recognizing restructuring liabilities related to exit or disposal activities.

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    • Custom Reports & Analytics
    • Single Sign On (SSO) Integration
    • Custom Integration
    • Data Migration Importing & Loading
    • Ultra Customization Support
  • App Suite
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      • Lead Management
      • Contact Management
      • Organization Management
      • Activity Tracking
      • Opportunity Management
      • Pipeline Management
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      • Workflow Automation
      • Marketing Campaign Management
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      • Ticketing
      • Service Level Agreements (SLAs)
      • Canned responses
      • Knowledge Base Management
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      • Convert Email into Record
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