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One cloud accounting dilemma will soon be fixed

January 30, 2018

You know cloud computing is here to stay when the accountants take notice. The Financial Accounting Standards Board’s Emerging Issues Task Force plans to propose new rules for how to deal with cloud computing service costs.

The updated guidance means that a customer under contract with a cloud computing provider would consider the current processes of leveraging internal-use software to determine how to recognize implementation costs as an asset.

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