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What is Cloud Computing Cost Accounting Update about?

The FASB has introduced new guidance for accounting implementation costs related to cloud computing arrangements, requiring certain costs to be capitalized under ASC 350-40. This guidance, effective for public entities in 2020 and others in 2021, standardizes the treatment of implementation costs while maintaining that hosting fees are expensed as incurred. The amendments aim to align the accounting treatment for various cloud computing arrangements and clarify the scope of implementation costs, including t

Author

acalixtos

Language

EN