Internal-use software has evolved considerably over the years. It has shifted from local installations to cloud computing and “as a service” offerings. The FASB addressed this trend with ASUs impacting accounting and financial reporting related to cloud computing arrangements. This course covers these requirements, effective from January 1, 2022.

• recognize what is meant by the term "cloud computing arrangements"
• identify key requirements prescribed by ASUs No. 2015-05
• differentiate between computer software that is and is not used for internal-use
• recognize important amendments issued in 2018 by the FASB

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

A general understanding of financial accounting principles and accounting for software and systems