Improvements in Accounting for the Costs of Cloud Computing Implementation

An interview with Sean Prince, Glenn Richards, and Matthew Schell

11/20/2018
With the help of new guidance from the Financial Accounting Standards Board (FASB), senior-level financial executives now have clarity on how to account for the costs associated with implementing a cloud computing arrangement, including application development, on-premise coding, testing, configuration, and customization. 

Financial Executives Research Foundation (FERF) spoke with Matt Schell, Sean Prince, and Glenn Richards of Crowe about FASB Accounting Standards Update (ASU) 2018-15, “Intangibles – Goodwill and Other – Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract,” which is aimed at decreasing the complexity of accounting for costs of implementing a cloud computing arrangement accounted for as a service contract, as well as about any complexities that remain under the new standard.
Improvements in Accounting for the Costs of Cloud Computing Implementation
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