Saudi Aramco GI 202.320 Accounting For The Costs of Computer Software Acquired Or Internally Generated
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This General Instruction (GI) manual, Saudi Aramco GI 202.320, provides comprehensive guidance on the accounting policies and procedures for computer software costs. It details the methodologies for capitalizing expenditures related to both acquired and internally generated software, including specific sections on separate acquisition, internal development phases (research and development), and the treatment of upgrades and enhancements.
The document also outlines procedures for amortization of capitalized software, replacement, retirement, disposal, and cancellation of software projects. It references relevant accounting standards such as IAS 38 (IFRS) and FASB ASC 350-40 (US GAAP) and integrates with other Saudi Aramco accounting instructions and forms.
This instruction ensures consistent financial reporting and accurate asset valuation for computer software within Saudi Aramco. Ideal for accounting managers, financial analysts, and capital project accountants working in the oil and gas industry.