EQUIPMENT AND INTANGIBLES	9 Months Ended
Dec. 31, 2021
Property, Plant and Equipment [Abstract]
EQUIPMENT AND INTANGIBLES	NOTE 8 – EQUIPMENT AND INTANGIBLES Property and equipment are stated at cost. Depreciation is computed using the average cost method over the estimated useful lives of the assets, which range from 3 to 10 years. Leasehold improvements are amortized over the shorter of the useful life of the related assets or the lease term. Expenditures for repairs and maintenance are charged to expense as incurred. For assets sold or otherwise disposed of, the cost and related accumulated depreciation are removed from the accounts, and any related gain or loss is reflected in income for the period. During the period ended September 30, 2021, the Company capitalized costs related to internal use software following guidance in ASC 350-40, Internal-Use Software. This software was placed into service with amortization beginning in September 2021. In addition, the Company is capitalizing costs associated with software to be marketed following guidance in ASC 985-20, Software – Costs of Software to Be Sold, Leased or Marketed. Amortization will begin once the software is completed. Certain costs totaling $69,624 associated with the software, that were previously expensed to professional fees in the quarter ended June 30, 2021, were capitalized in the current quarter. As of December 31, 2021, the Company’s equipment and intangibles net of accumulated depreciation and amortization was $2,364,288 and $1,625,022 as of March 31, 2021.

EQUIPMENT AND INTANGIBLES

9 Months Ended

Dec. 31, 2021

Property, Plant and Equipment [Abstract]

NOTE 8 – EQUIPMENT AND INTANGIBLES

Property and equipment are stated at cost. Depreciation is computed using the average cost method over the estimated useful lives of the assets, which range from 3 to 10 years. Leasehold improvements are amortized over the shorter of the useful life of the related assets or the lease term. Expenditures for repairs and maintenance are charged to expense as incurred. For assets sold or otherwise disposed of, the cost and related accumulated depreciation are removed from the accounts, and any related gain or loss is reflected in income for the period.

During the period ended September 30, 2021, the Company capitalized costs related to internal use software following guidance in ASC 350-40, Internal-Use Software. This software was placed into service with amortization beginning in September 2021. In addition, the Company is capitalizing costs associated with software to be marketed following guidance in ASC 985-20, Software – Costs of Software to Be Sold, Leased or Marketed. Amortization will begin once the software is completed. Certain costs totaling $69,624 associated with the software, that were previously expensed to professional fees in the quarter ended June 30, 2021, were capitalized in the current quarter.

As of December 31, 2021, the Company’s equipment and intangibles net of accumulated depreciation and amortization was $2,364,288 and $1,625,022 as of March 31, 2021.

Tribus Enterprises, Inc. 10-Q