Up in the Air: Accounting for Subscription-Based Information Technology Arrangements

GASB Statement No. 96, Subscription-Based Information Technology Arrangements (SBITAs), significantly revises the accounting and financial reporting requirements for cloud computing arrangements and other SBITA contracts. This session will assist participants in understanding the requirements of GASB Statement No. 96, building off of their current understanding of the financial reporting requirements for leases under GASB Statement No. 87, which utilizes a similar conceptual framework. This session will also review example journal entries and disclosures under GASB Statement No. 96, provide best practice recommendations regarding implementation, and discuss implementation challenges that governments have encountered thus far.