Cloud Computing Arrangements – AcSB

Date recorded:

At its meeting on September 14-15, 2022, the AcSB completed its deliberations on stakeholder comments on the Exposure Draft, including considering feedback from its Private Enterprise Advisory Committee and Not-for-Profit Advisory Committee. The AcSB also discussed how Section 4410, Contributions – Revenue Recognition, would interact with the new Accounting Guideline AcG-20, Customer’s Accounting for Cloud Computing Arrangements, in respect of not-for-profit organizations. The AcSB finalized the transition provisions by including additional transition relief to address stakeholders’ concerns over the cost and efforts required to analyze historical information when applying the Guideline retrospectively. The AcSB approved the issuance of AcG-20, subject to drafting changes and a written ballot. Two Board members intend to dissent from issuing the Guideline. The Board plans to issue the Guideline in mid-November 2022.

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

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