What is the capitalization of software as intangible assets?
Capitalization in its general concept is the recording of principal costs as capital for tangible and intangible assets, and an intangible asset is an identifiable non-monetary asset, with no material substance.
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Examples of Intangible Assets
What are the benefits of software capitalization as intangible assets?
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Future economic benefits of intangible assets:
A key driver of innovation, organizational value and corporate performance
A key factor toward diversifying the economy in Saudi Arabia
Cost savings
Obtaining a leading business and increasing its capital values
Selling products or services
Software Capitalization and Development Prospect Guide
The Guide aims to give KSA technological companies knowledge and future prospects for capitalization of intangible assets such as software and applications, in accordance with regulations and standards applicable in the Kingdom, which are in accordance with IFRS and IASB international standards.
