On March 1, 2018, the FASB issued for public comment a proposed ASU1 that would amend ASC 350-402 to address a customer’s accounting for implementation costs incurred in a cloud computing arrangement (CCA) that is a service contract. The proposed ASU, which is a result of a consensus reached by the FASB’s Emerging Issues Task Force (EITF), would also add certain disclosure requirements related to implementation costs incurred for internal-use software and CCAs. Comments on the proposed ASU are due by April 30, 2018.
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