BANK OF AMERICA CORP /DE/
For the period ended Jun 30, 2026. Filed Jul 31, 2026.
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Jun 30, 2026 · Filed Jul 31, 2026
Contents
Current Accounting Developments
Accounting Standard Issued but Not Yet Adopted
Accounting for Internal‑Use Software Costs
The Financial Accounting Standards Board issued updated guidance on the accounting for internal‑use software, providing targeted improvements to the capitalization of costs incurred in the internal development of software. The amendments update existing guidance by eliminating the consideration of software project development stages and enhancing the criteria for when capitalization begins, including establishing a “probable to complete” threshold. The Accounting Standards Update is effective for annual and interim reporting periods beginning after December 15, 2027, with early adoption permitted. The Corporation is currently evaluating the impact of and its approach to adopting this guidance; however, adoption is not expected to have a material impact on its Consolidated Financial Statements.
45 Bank of America
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