FASB

ASU 2018-15 Simplifies Accounting for Cloud Computing Expenses

As cloud computing became more popular, businesses took different approaches to how they accounted for it on their financial statements. But, as the percentage of businesses using cloud products increased, the FASB and other standard setters realized that the “diversity” in practice was growing too large, and began to issue regulations to clarify the process …

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NetSuite Podcast Reviews How Private Companies Should Prepare for ASC 842

The new FASB lease accounting standard ASC 842 is already in effect for public companies with a calendar year-end. Private companies with a calendar year-end must comply with the new standard beginning January 1, 2020.  Read the NetSuite blog post for more details about Episode 21, which discusses the important facts to know about the standard and how …

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