Ask Denovo - GASB96

We had a great question come in last week from our reader Shaun in Hawaii asking if JDE can accommodate the GASB96 accounting changes.

For those JDE customers who need to comply with GASB96 (Subscription-based Information Technology Arrangements - basically any recurring fees you pay for IT services such as Hosting), JDE does not have a documented solution at this time. Instead, Oracle has created an Enhancement Bug for this - Bug 34995251.

GASB96 was released a few years ago, but compliance begins with fiscal years beginning after June 1, 2023. Denovo has made a request to have a workaround provided using the current Balance Sheet Lessee Accounting functionality as the entries appear to mirror this existing functionality (under GASB87/FASB842/IASB17). We will keep you updated here in “Ask Denovo” if there are any new developments on this front.  

Thanks for your question, Shaun!

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