Government IBM Expert Information Technology 
Insight Software
FEBRUARY 7, 2025
One such term that has been gaining attention in recent years, particularly in the context of governmental accounting, is SBITA, which stands for Subscription-Based Information Technology Arrangement. This allows governments to utilize advanced IT capabilities without the need to invest in costly hardware and software.
Insight Software
FEBRUARY 7, 2025
This blog focuses on GASB 96 which applies to subscription-based information technology arrangements (SBITAs) as of June 2022. GASB 96 is a set of accounting standards defining SBITAs for government end users. It governs the accounting and financial disclosure of cloud-based software subscription payments.
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Insight Software
FEBRUARY 7, 2025
Below are the most common industries that must abide by lease accounting standards set forth by the Financial Accounting Standards Board (FASB) and Government Accounting Standards Board (GASB). The FCC has its own regulations that information technology companies must follow when leasing telecommunications equipment.
Insight Software
FEBRUARY 7, 2025
Theyre also shaking things up in terms of how government agencies need to present their financial statements, including footnote disclosures. Overview of GASB 96, Subscription-Based Information Technology Arrangements (SBITAs) GASB 96 governs how government agencies manage the accounting of technology subscriptions.
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