The 5 major challenges with GASB 96
Jun 22, 2023
Now is the time to plan for the next significant governmental accounting standard, GASB 96 for subscription-based IT arrangements (SBITAs).
While the accounting treatments for GASB 87 and GASB 96 have some helpful similarities, GASB 96 is more complex. We discussed five challenges with GASB 96:
- Identifying SBITAs
- Determining the nature of the arrangement
- Identifying, segregating and valuating implementation costs
- Disclosure requirements
- Expensing versus capitalizing new charges