Case 2 Week 5 appropriate accounting treatment for patents.
Question # 00022850
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Updated on: 08/12/2014 11:41 PM Due on: 08/14/2014
Case 2
You have been hired as a consultant for XYZ Research Co. XYZ Research Co. incorporated in 2010. XYZ ‘s business centers on developing new technology for interplanetary exploration. The company has many patents and has historically expensed all of the costs associated with obtaining their patents. The owners of XYZ Labs are unsure whether or not if any or all of its patent costs can be capitalized. They also are unsure if any impairment testing should be done periodically on their patents. You have been asked by the owners to look into these issues and provide the appropriate accounting treatment for patents.
Week 5
Organize and interpret the findings of your research in one to two pages (12-point font, double-spaced).
You have been hired as a consultant for XYZ Research Co. XYZ Research Co. incorporated in 2010. XYZ ‘s business centers on developing new technology for interplanetary exploration. The company has many patents and has historically expensed all of the costs associated with obtaining their patents. The owners of XYZ Labs are unsure whether or not if any or all of its patent costs can be capitalized. They also are unsure if any impairment testing should be done periodically on their patents. You have been asked by the owners to look into these issues and provide the appropriate accounting treatment for patents.
Week 5
Organize and interpret the findings of your research in one to two pages (12-point font, double-spaced).
Additional Requirements
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Rating:
/5
Solution: Case 2 Week 5 appropriate accounting treatment for patents.