Westpac Announces A Giant Raise In Software Capitalisation Threshold
In a statement issued on the Australian Securities Exchange (ASX), the bank noted it increased the software capitalisation threshold before a project from AU$1 million to AU$20 million. “This policy has been applied from 1 October 2020 and will see the group expense a higher portion of its investment spending from first half 2021,” Westpac said. “The higher expense is not treated as a notable item. “This change had no impact to the carrying value of capitalised software at 30 September 2020....