GASB 96: SBITA Accounting for the Long Haul

Course Description

GASB issued Statement No. 96, Subscription-Based Information Technology Arrangements (SBITAs)(GASB 96) to address the accounting treatment and financial reporting for SBITAs.

Join us for a current interpretation of GASB 96 as our accounting expert, Abdi Ali takes you through real-life examples of how to account for SBITAs under the new guidance. We will cover the steps companies have taken for GASB 96 adoption and look at what may have gone wrong when opting to use Excel for your initial SBITA transition.

Our presenter will then walk through how the right software can support internal controls, improve efficiency, and provide cost-saving benefits to your organization’s GASB 96 accounting. Finally, FinQuery representatives will review how a SBITA accounting solution can simplify the ongoing accounting for, processing of, and reporting on SBITAs for your organization.

Learning Objectives

• Obtain an understanding of GASB 96, including how to calculate the subscription liability and related subscription asset
• Learn how to prepare your organization for efficient and accurate SBITA accounting after transition
• Identify potential risks to be aware of when using Excel for ongoing GASB 96 accounting
• Explore the benefits and overlap of SBITA accounting and software monitoring applications and their features

Prerequisites

• None

Who Should Attend

Accounting professionals from government entities who manage a medium-to-high volume of subscription-based IT arrangements and/or software contracts will benefit most from this event, along with CPAs who serve government clients with a similar volume of software contracts.

Advanced Preparation

None

Presenters