Do you use Software Provided from the Cloud?

Last week, the Financial Accounting Standards Board (FASB) issued another proposal under its Simplification Initiative to address how an entity should account for payments when it purchases the use of software hosted by a vendor (i.e. cloud computing arrangements).

These arrangements are known as a “hosting arrangement,” an example of which is the use of web-based Customer Relationship Management (CRM) software or any other web-based software.

Learn more in our latest MHM Messenger on accounting for cloud computing.

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