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Note 12 - Accounting for the Costs of Computer Software Developed for Internal Use | 12 Months Ended
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Apr. 30, 2023
Notes to Financial Statements |
Internal Use Software Disclosure [Text Block] |
Note 12 - Accounting for the Costs of Computer Software Developed for Internal Use:
The Company has adopted the provisions of the Statement of Position 98-1 (SOP 98-1), "Accounting for the Costs of Computer Software Developed for Internal Use". SOP 98-1 requires companies to capitalize as long-lived assets many of the costs associated with developing or purchasing software for internal use and amortize those costs over the software's estimated useful life in a systematic and rational manner. Such costs, when incurred, are capitalized and amortized over the expected useful life of the asset, normally 3 to 5 years.
During the twelve months ended April 30, 2023, the Company capitalized $110,000 related to the third party programmers' costs. The Company did not incur and did not capitalize expenditures related to third party programmers' costs during the twelve months ended April 30, 2022 and capitalized $145,000 during fiscal year 2021. Total amortization expenses for the years ended April 30, 2023, 2022 and 2021 were $49,000, $73,000 and $70,000, respectively.

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- Definition Disclosure of accounting policy for its computer software activities including the accounting treatment for costs incurred for (1) research and development activities, (2) development of computer software for internal use, (3) in-process research and development acquired in a purchase business combination. + References No definition available. + Details
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