EPT1) If company A buys a customer list from company B, how does company B record it? (sale of an intangible asset) A journal entry would help, but not completely necessary. I'm just wondering if company B's intangible assets would decrease.
2) If a company is private, there are usually no GAAP constraints, but they would have to abide to GAAP if they want a loan from a bank. If there is a buyer that wants to buy the company, is that considered a constraint? (as in, would they want GAAP in the company's financial statements?)
thanks, if anything is unclear feel free to ask. I was going to pm the accountants in the manpower thread, but there was no such category =(
