GASB 96: Subscription-Based IT Arrangement Identifier

Does the contract meet the definition of a lease under GASB 87?

This may occur when a contract includes both a software component and a capital asset component, in which the capital asset's cost significantly exceeds the software's cost.

Common Examples
  • Renting physical laptops that include operating software
  • Renting smart office equipment (i.e. printer/copier) that includes connectivity to an IT system's network