The accounting rulemaker for states, cities, and counties proposed guidance Monday to help state and local governments navigate existing accounting rules for subscription-based information technology arrangements.
The proposal addresses the single issue of whether a cloud computing arrangement meets the definition of a subscription-based information technology arrangement, as defined in Governmental Accounting Standards Board Statement No. 96, Subscription-Based Information Technology Arrangements.
- The proposed answer: It depends on whether the cloud computing contract conveys control of the right to use the underlying information technology assets, as detailed in GASB Statement No. 96, the proposal says.
- The public has until March ...