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FASB proposes changes in accounting for cloud computing costs

  • FASB (US Financial Accounting Standards Board) (lt blue) Image

Mar 01, 2018

On March 1, 2018, the Financial Accounting Standards Board (FASB) issued a proposed accounting standards update aimed at improving how to account for the costs of implementing cloud computing. Comments are requested by April 30, 2018.

The proposed update would specifically clarify the accounting for implementation costs related to a cloud computing arrangement that is a service contract. It also would provide more disclosures of the implementation costs for internal-use software and cloud computing arrangements.

Review the press release and the exposure draft on the FASBs website.

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