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Question - GAAP requires that research and development (R&D) costs be treated as period costs and expensed, prohibiting capitalization. Because of this, when a company has an internally developed intangible asset, it does not show any value for it on its balance sheet. Only purchased intangibles, having a more identifiable value (cost) are carried as assets on balance sheets.
Many in the accounting field and in business, in general, believe that this rule should be changed. These critics argue that it is possible to derive the cost of internally developed intangibles accurately and that the current rule is just unfair since it forces companies to leave off their balance sheets a right that will yield benefits over multiple future periods.
What would be your position (for or against) on allowing companies to capitalize the cost internally developed intangibles? and why?
Why would your position be superior to the contrary one, stating the advantages and disadvantages of both?
Why is Kaufman's 2011 balance sheet amount different from the 2011 amount reported in the disclosure note? Explain.
Joel has four transactions involving the sale of capital assets during the year resulting in a STCG of $5,000, a STCL of $12,000, a LTCG of $1,800 and a LTCL of $1,000. As a result of these transactions, Joel will:
Alpha's accountant discovered that outstanding checks amounted to $915 and deposits in transit were $480.What is the correct adjusted ending cash balance
Why is it essential to have a government in a country? IF given the chance to change the government's current system, what are the changes you want to impose
Advertising and promotion of the product are done through a year-round media program costing $1,500 per week. Determine a general formula for total cost
David earned a $4,000 bonus for 2014. Bonuses would be mailed to the employees during the first week of January 2015. Determine David's 2014 taxable income
How did the fact that George was such a trusted employee give him the opportunity to commit the fraud? What pressures did George have to commit the fraud?
Prepare the company' statement of financial position at 31 May 2015 (include the following account classifications: cash, inventory, prepaid expenses
Cash production costs are budgeted at $6 per unit produced. Prepare a schedule for each month showing budgeted cash disbursements for Edwards Company
What is the standard deviation for this sample? (Round your intermediate calculations and final answer to the nearest whole number.)
What net cash flow from operating activities using the indirect method is? Information is available from the current period financial statements
Did Blackstar have a favorable or unfavorable variable overhead spending variance during 2017?
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