Cloud accounting: Dealing with the ever-growing complexity has been saved
Cloud accounting: Dealing with the ever-growing complexity
Cloud migration & operation
As cloud adoption soars, so does the complexity of the accounting treatment for cloud. And with the adage that, "Now every company is a tech company" now a near reality, accounting for cloud has never been more important to the bottom line.
Accounting for cloud—its complexity affects the bottom line
As cloud adoption increases at an ever-faster pace, many organizations are realizing that the only thing as complex as building their perfect cloud solution is ensuring the proper accounting treatment for cloud. In this episode, David Linthicum and Deloitte & Touche senior consultation partner Sandie Kim Kulick discuss the complexities of accounting for cloud. According to Sandie, as cloud implementations evolve, accounting and finance will need to have a detailed understanding of the company’s cloud posture. Companies will also need to continually rethink and revise their accounting treatment for all things cloud—especially those companies that are global and/or those that want to potentially market the apps they develop.
Disclaimer: As referenced in this podcast, “Amazon” refers to AWS (Amazon Web Services) and “Google” refers to GCP (Google Cloud Platform).
For those companies that are becoming more and more tech, they're largely dealing with similar complexities [as tech companies] in determining the right revenue recognition model to apply.Sandie Kim Kulick is a senior consultation partner at Deloitte & Touche, and she provides consultations to audit practitioners and clients on complex accounting issues. She also serves as the lead partner for the National Office revenue recognition team.