Establish purpose for the written communication

Reference no: EM133205263 , Length: Word Count: 4 Pages

Assignment - Financial Statements in Accounting Essay

Description - Refer to exercise 1 on page 62 of Accounting & Auditing Research: Tools and Strategies text. Assume the role of a financial consultant asked to research conformity of R&D accounting at Daimler Auto Parts Inc. Write a memo to Daimler Auto Parts, Inc.'s management team responsible for registering the company with the SEC, making sure to cover the following aspects:

1. Establish purpose for the written communication

2. Identify applicable guidance over accounting for R&D under IFRS and under U.S. GAAP

3. Indicate possible consequences for incorrect reporting of R&D costs

4. Recommend whether or not Daimler Auto Parts Inc. may continue capitalizing most of its R&D costs.

5. Support your recommendation with a reasonable rationale based on research of authoritative sources.

Reference no: EM133205263

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