Conserv Corporation, a computer software company, is trying to determine the appropriate accounting procedure to apply to its software development costs. Management is considering capitalizing the development costs and amortizing them over several years. Alternatively, they are considering charging the costs to expense as soon as they are incurred. You, as an accountant, have been asked to help settle this issue. Which definitions of financial statement elements would apply to these costs? Based on this information, what accounting procedure would you recommend and why?