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In fact, a recent Gartner report on cloud expenditure found that cross-industry cloud spend has risen from 8% as a percentage of total IT spend in 2018 to 16% in 2022. But the constant noise around the topic – from cost benefit analyses to sales pitches to technical overviews – has led to information overload.
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This blog focuses on GASB 96 which applies to subscription-based information technology arrangements (SBITAs) as of June 2022. You should recognize amortization of the discount on the subscription liability as an outflow of resources (for example, interest expense) in subsequent financial reporting periods. What Is GASB 96?
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