Clearing the Fog: ASC 350-40 and Accounting for Cloud Contract Costs

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. In addition, it covers the changes from ASU 2025-06 approved in September 2025. 

Find this course for your license


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Regulator 

 

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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
  • Identify the changes from the ASU 2025-06 amendments


Designed For:

Practicing CPAs, both in public accounting and business and industry -- controllers, accountants, and other financial accounting personnel

WebCE® is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org. For more information regarding WebCE administrative policies such as refunds, cancellations and concerns, please contact Support Services at 877-488-9308.

Course Information

Adding additional credit may change exam requirements.

Prerequisites:
1-2 years accounting experience and/or some familiarity with cloud arrangements accounting
Advanced Preparation: None
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