GASB 96, Subscription-Based Information Technology Arrangements (SBITA) is effective for years beginning after June 15, 2022, just one year after GASB 87, Leases. This course focuses specifically on the implementation challenges we’re seeing in our advisory implementation work and questions received from our audit teams. Cherry Bekaert has reviewed over a thousand SBITAs and we will use this knowledge to show how the language in these SBITA contracts impacts GASB 96 determinations. We will look at factors that impact both the subscription term and subscription liability evaluation for your contracts. To re-watch part one of the series, click here.
Learning Objectives:
- Identify the top challenges governments are facing when implementing GASB 96 and their potential solutions
- Understand what to look for in Subscription-Based IT Arrangements and how that impacts SBITA determination
- Identify termination options and how the different types impact your SBITA term
- Learn when you have a subscription liability and when you only have a note disclosure for your SBITA
- Understand how to plan a realistic GASB 96 implementation timeline
