The Government Accounting Standards Board (GASB) is a private non-governmental organization that creates accounting reporting standards, or generally accepted accounting principles (GAAP), for state and local governments in the United States.

From financial years starting December 15, 2019 and on, public organizations in the US must be compliant with the GASB new lease accounting standard, GASB 87. Under GASB 87, almost all contracts are considered leases on the statement of net position in the annual financial statements.

Because of the increased popularity of Subscription-Based Information Technology Arrangements (SBITAs), GASB issued Statement 96, to address the accounting treatment and financial reporting for these types of agreements. GASB 96 defines what a SBITA is and provides guidance on how to account for them.

GASB 96 is effective for organizations with fiscal years beginning after June 15, 2022, and all reporting periods thereafter.