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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.
How to create account for barter transactions? As My Company is providing a service to another company and that company is reimbursing us with his service.
Describe what journal entry pass in case of vat refundable and in case of vat payable? Ans) In case of vat payable: output vat Toinput vat To vat payable In case o
Liquidity refers to a company's cash position, availability of resources to meet short-term cash requirements, and overall ability to obtain cash in the normal course of business.
WHO PREPARES A TRADING ACCOUNT AND WHY?
Q. What do you understand by Goodwill? Goodwill -- in accounting, difference between what a company pay when it buys theassets of another company and book value of those assets
hello, i am in Malaysia and try to reconcile a bank statement in USD. I am confuse on which currency should i follow to enter the bank transactions. If follow in USD, i could not
“Ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account.”
Which of the following items will be entered in the cash payments journal of an entity when app applicable subsidiary journals are in use? Merchandise purchased on credit Merchand
There is almost not, any organization that does not have an accountant. His task is all pervasive and he is included in a broad range of activities, particularly in a huge and comp
Generally Accepted Auditing Standards (GAAS) - Standards set by AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS (AICPA) which concern AUDITOR'S professional qualities and judgme
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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