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Cloud Computing – AcSB

Date recorded:

At its meeting on December 14, 2020, the AcSB discussed the feedback from its Private Enterprise Advisory Committee and Not-for-Profit Advisory Committee on the accounting treatment under existing guidance for a fact pattern that outlines various expenditures an entity might incur to implement a cloud computing arrangement. The Board also discussed the Committees’ feedback on whether the accounting treatment reflects the economic substance of the expenditures. The AcSB directed staff to perform additional analysis on the accounting for cloud computing arrangements to help inform whether standard-setting activity relating to these arrangements is needed. The Board will continue its discussions at the February 2021 meeting. For information purposes, the AcSB also received an update on the IFRS Interpretations Committee’s discussion on the accounting for configuration or customization costs in a cloud computing arrangement in the context of IFRS Standards.

Review the Executive Summary on the AcSB's Web site.

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