Understanding GASB 96 and the Challenges of Implementation
GASB Statement No. 96 (SBITAs) is a standard issued by the Governmental Accounting Standards Board to improve how governments report subscription-based IT arrangements—think cloud software, SaaS platforms, and similar contracts. Effective for fiscal years beginning after June 15, 2022, GASB 96 brings these agreements onto the balance sheet, increasing transparency and consistency in financial reporting. […]
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