How to capitalize my patents?, Accounting Basics

Assignment Help:

How can I capitalize my patents? My company has applying for a patent and I want to capitalize the research and development expenditures. I know it will cost some legal charges and the successful defense of a patent can be turned  capitalized, but can the actual costs of the patent be? If yes or no, please provide the FASB ruling if you have it or reference.


Related Discussions:- How to capitalize my patents?

Show steps in recording business transactions, Steps in recording business ...

Steps in recording business transactions Look at Exhibit 5 to observe the steps in recording and posting the effects of a business transaction. Note that a source document offe

Verifiability of financial information, Q. Verifiability of Financial infor...

Q. Verifiability of Financial information? Verifiability Financial information has verifiability when independent measurers are able to substantially duplicate it by using the

Journal, transactions can be even directly entered to the ledger elaborate ...

transactions can be even directly entered to the ledger elaborate and explain why journal is necessary

Concept of accountability, Problem It is usually recognized that power ...

Problem It is usually recognized that power is an essential component of accountability and that greater accountability is recognized towards those stakeholders who have more p

I, what are the internal sources of accounting?

what are the internal sources of accounting?

A store receives $400 cash after offering a chain discount, A store receive...

A store receives $400 cash after offering a chain discount of 10/10/5 on a good. What was the list price? A. $492.20 B. $519.82 C. $533.33 D. $612.00

#nocluewhattodo, I need help understanding and filling out an income statem...

I need help understanding and filling out an income statement packet!

The capital accounts of hawk and martin have balances of, The capital accou...

The capital accounts of Hawk and Martin have balances of $160,000 and $140,000, respectively, on January 1, 2010, the beginning of the current fiscal year. On April 10, Hawk inve

Summary of significant accounting policies, Q. Summary of significant accou...

Q. Summary of significant accounting policies? As part of their annual reports companies comprise summaries of significant accounting policies. These policies help users in int

FASB No. 142.

2/19/2014 2:41:11 AM

Internally development of  patents are  very difficult to capitalize as the patent must have certain define criteria to be met. Specifically, it must be likely that the expected future assistances that are attributed to the asset will be available to the entity and the cost or value of the asset can be calculated reliably. The legal and filing costs are  associated with defending a patent are capitalized so the research and developmental costs for the product or process are treated as an incrureed expense.This is referenced in FASB No. 142.

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd