GASB 96 defines a subscription-based information technology arrangement (SBITA) as a contract that conveys control of the right to use another party's IT software, alone or in combination with tangible capital assets, as specified in the contract for a period of time in an exchange or exchange-like transaction.
Types of SBITAs: Software as a Service (SaaS), Platforms as a Service (PaaS), and Infrastructure as a Service (IaaS)SBITAs include contracts that meet the definition above, even if they are called something different.
Control: To have control, the government must have both:
Period of Time: This is the term that the government has a noncancellable right to use the underlying IT assets
Exchange or Exchange-like Transaction: An exchange or exchange-like transaction is one that occurs in an orderly fashion.
