If there is a contract modification, and it’s accounted for as a termination of old contract and new contract, would you write-off the capitalized contract costs?
Contract modification
All Replies
Viewing 1 replies (of 1 total)
- You must be logged in to reply to this topic.
No- you would carry forward the contract costs under the new contract. You would only write it off if there is an impairment (i.e. due to a decrease in scope/price.)