The requirements for revenue recognition according to Financial Accounting Standards SAK are somewhat stricter than according to Government . This is because all conditions for recognizing income and economic benefits in connection with transactions flowing to the company must be met. Previously we explained the meaning of intangible assets characteristics types and methods of reporting intangible assets starting from assessment recognition and recording.
To report intangible assets you need to know the following South Sudan Email List provisions. Intangible Asset Reporting Requirements for Companies Simply put intangible assets are assets that are invisible but provide benefits. assets in accounting certainly has provisions including that individuals or companies have the potential to obtain future economic benefits from these assets and the costs of their acquisition can be measured reliably.
The valuation of intangible assets is measured according to their acquisition price which is included in the acquisition cost. The cost of acquiring intangible assets consists of the purchase price which is included in import duties and nonrefundable purchase taxes after deducting discounts rebates and various other costs that are directly involved in preparing the asset so that it is ready for use.