GAAP usually excludes research and development costs from its definition of inventoriable costs. Why do you believe

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GAAP usually excludes research and development costs from its definition of inventoriable costs. Why do you believe GAAP mandates such a treatment?

GAAP
Generally Accepted Accounting Principles (GAAP) is the accounting standard adopted by the U.S. Securities and Exchange Commission (SEC). While the SEC previously stated that it intends to move from U.S. GAAP to the International Financial Reporting Standards (IFRS), the...
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Managerial accounting

ISBN: 978-0471467854

1st edition

Authors: ramji balakrishnan, k. s i varamakrishnan, Geoffrey b. sprin

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