Overview
Navigating the ever-evolving landscape of cloud computing can feel like an attempt to "clear the fog" without a roadmap. This course clarifies ASC 350-40 for CPAs, covering modern cloud types, financial impacts, and implementation costs. It also explores the shift from on-premise software to cloud services and the updated accounting standards (ASUs) from FASB.
Learning Objectives
- recall aspects of the concept and evolution of cloud computing
- identify key requirements for accounting for implementation costs
- remember rules for capitalizing implementations costs and for using the appropriate amortization period
- differentiate between computer software that is and is not used for internal use and recognize proper application of the rules in ASC 350-40, Intangibles-Goodwill and Other- Internal-Use Software
Designed For
Practicing CPAs, both in public accounting and business and industry -- controllers, accountants, and other financial accounting personnel
Prerequisites
1-2 years accounting experience and/or some familiarity with cloud arrangements accounting
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Regulator
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