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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.
contractee account is it an assets account or expenses Account
Honesty AL, CPA, is compiling financial statement of significant accounting policies, Honesty AL discovers that the method used to value inventory in the past was stated as "invent
Q. Explain about Accrued liabilities? Accrued liabilities are liabilities not so far recorded at the end of an accounting period. They represent responsibility to make payments
what is the BRS
#How to make journal entries?
Provided services on credit to Yamato P/L $5 900. How do we apply this in the t accounts
1. My accountant has told me that my business made a profit of £100,000 last year. However over the same time period my bank balance has decreased and not increased as I expected.
Q. Define Non-operating revenues? Non-operating revenues or other revenues and non-operating expenses or other expenses are revenues and expenses not related to the sale of pro
A firm has $200,000 in total assets and $120,000 in owner's equity. What are the total liabilities? A. $80,000 B. $200,000 C. $320,000 D. Cannot be determined from the info
Cross indexing is made up
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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