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SOFTWARE DEVELOPMENT | 9 Months Ended
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Sep. 30, 2023
Research and Development [Abstract] |
SOFTWARE DEVELOPMENT | SOFTWARE DEVELOPMENT Software development costs are accounted for in accordance with ASC 350-40, Internal-Use Software. We capitalize incurred labor costs for software development from the time the preliminary project phase is completed until the software is available for general release. Research and development costs and other computer software maintenance costs related to software development are expensed as incurred. We estimate the useful life of our capitalized software and amortize its value on a straight-line basis over that estimated life, which is estimated to be five years. If the actual useful life of the asset is determined to be shorter than our estimated useful life, we will amortize the remaining book value over the remaining actual useful life, or the asset may be deemed to be impaired and, accordingly, a write-down of the value of the asset may be recorded as a charge to earnings. Amortization begins when the related software features are placed in service. Software development costs, net was comprised of the following at September 30, 2023 and December 31, 2022:
(In thousands) | September 30, 2023 |  | December 31, 2022
Software development costs | $ | 49,770 |  |  | $ | 31,789 |
Less: accumulated amortization | (10,038) |  |  | (4,532) |
Software development costs, net | $ | 39,732 |  |  | $ | 27,257 |

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- Definition The entire disclosure for research, development, and computer software activities, including contracts and arrangements to be performed for others and with federal government. Includes costs incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process whether intended for sale or the entity's use, during the reporting period charged to research and development projects, including the costs of developing computer software up to the point in time of achieving technological feasibility and in-process research and development acquired in a business combination consummated during the period. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 730 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483041/730-20-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 985 -SubTopic 730 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//985-730/tableOfContent + Details
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