On February 6th, the Governmental Accounting Standards Board (GASB) released proposed implementation guidance that would expound on existing guidance related to subscription-based information technology arrangements (SBITAs). The Exposure Draft, Additional Proposal for Implementation Guidance Update—2023, focuses on whether the definition of a cloud computing arrangement is comparable to that of an SBITA, as defined in GASB Statement No. 96, Subscription-Based Information Technology Arrangements.
Should the publication be approved as final implementation guidance, the questions and answers of the supplemental Exposure Draft will be added to previously exposed questions and answers, forming the Implementation Guidance Update—2023.
Stakeholders may review the proposal and send feedback to the GASB in writing or via the organization’s electronic input form through March 10, 2023.