Happy Monday! I would like to quickly pick your brains on how to capitalize software development. Specifically, I am having multiple modules on the software package, to be capitalized separately. Reporting requirements are that I can report on the value of each software module as well as the value of the development parties (internal developers and a handful of external contractor companies) across the lifetime.

create projects, record hours into the projects, set them as CIP assets, capitalize every period, create compound assets in the end when ready to place in service

Thank you for your reply, @Karina. I was thinking of compound assets, too. My concern is how tedious they are to put together. Can you recommend any automation? Pertaining to projects as CIP assets, is this an out of the box functionality?

the point of using FAM in this manner is that every FAM purchase, every component can traced back to the original purchase. you certainly can circumvent the process and enter a big new asset manually, but you lose this traceability. Your choice.