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Depreciation / Amortization of Software

  • 2 posts
  • # 85666

Hello

I have recently taken over as Treasurer of a Photographic Society (non-profit making "social club").
I do understand that purchase of computer software are normally treated as an expense in the year of purchase, however we are likely to need to buy some Desktop Publishing software for future annual club programs, at a cost of some £667.

Since this software is likely to be used, easily, for the next 3-5 years, is it permissable to spread the software costs over that period please? I cannot find any authorative UK-based information source that tells me that this is permissable. 

Thanks in advance
Graham 

  • Companion Fellow PM.Dip
  • Practice Licence
  • 1137 posts
  • # 85667

Hi 

Welcome to the ICB Forum.

As a Student I think you should contact their accountant and request him to confirm want he/she  wants to you to do.  

As a student I would also check with ICB what level of accounts you are allowed to produce to under their  code of practice  .  I know you may have other qualifications with other bodies.  I think you should check first just in case it does  affect your membership in the future.

Edited at 03 Oct 2012 03:29 PM GMT

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