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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.
Criticisms against setting of Accounting Standards: 1. Setting of Standards may occasionally control the type of treatment of definite items. 2. They may generat
Any activity which you perform is assist if you comprise a set of rules to guide your efforts. Moreover, you determine that these rules are of more value to you if they are standar
Q. What do you mean by Salaries? The recording of the payment of employee salaries typically involves a debit to an expense account and a credit to Cash. But for a company pays
These questions are based on the following information and should be viewed as independent situations. Popper Co. acquired 80% of the common stock of Cocker Co. on January 1, 200
Replenishing the Petty Cash Fund Debit every expense account, supplies, or drawing as needed. Credit to Cash. Petty Cash is only debited when fund is established or increased.
Q. Advantage of a pre-inventory sale? Have you still taken advantage of a pre-inventory sale at your favourite retail store Many stores offer bargain prices to decrease the mer
“Ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account.” Elaborate and explain why journal is necessary.
2. One never goes alone, hens operation research employs different tools to accomplish: its own tasks, discus each and every tool employed by or throughout its doers.
budgeting?
Q. Define Auditing? Auditing A business in quest of a loan or attempting to have its securities traded on a stock exchange typically must provide financial statements to suppor
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.
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