Summary of Significant Accounting Policies New Accounting Standards (Policies)

6 Months Ended

Jul. 31, 2021

New Accounting Standards [Abstract]

Software to be Sold, Leased, or Otherwise Marketed, Policy [Policy Text Block]

Software Development Costs

The Company capitalizes certain software development costs related to software to be sold, included in core autonomous products, or otherwise marketed. Capitalized software development costs include purchased materials and services, salary and benefits of our development and engineering staff, and other costs associated with the development of new products. Software development costs are expensed as incurred until technological feasibility has been established, at which time future costs incurred are capitalized until the product is available for general release to the public. Based on our product development process, technological feasibility is generally established once product and detailed program designs have been completed, uncertainties related to high-risk development issues have been resolved through coding and testing, and the Company has the capability to manufacture the end product. Once a software product is available for general release to the public, capitalized development costs associated with that product will begin to be amortized to "Cost of Sales" in the Consolidated Statements of Income and Comprehensive Income over the product's estimated economic life, using the greater of straight-line or a method that results in cost recognition in future periods that is consistent with the anticipated timing of product revenue recognition.

The capitalized software development costs are subject to an ongoing assessment of recoverability, which is impacted by estimates and assumptions of future revenues and expenses for these software products, as well as other factors such as changes in product technologies. Any portion of unamortized capitalized software development costs that is determined to be in excess of net realizable value is expensed in the period such a determination is made. The gross carrying amount of software development costs was $1,439 and $0 at July 31, 2021 and January 31, 2021 respectively and is reported in "Intangible Assets, net" on the Consolidated Balance Sheets. No amortization expense was recorded in the three- and six-month periods ended July 31, 2021.

New Accounting Pronouncements, Policy

Accounting Standards Adopted

There are no significant Accounting Standard Updates (ASU's) issued that were adopted in the six-month period ended July 31, 2021.

New Accounting Standards Not Yet Adopted

There are no significant ASU's issued and not yet adopted as of July 31, 2021.