GAAP excludes most research and development costs from its definition of inventorial costs. Why do you believe

Question:

excludes most research and development costs from its definition of inventorial costs. Why do you believe 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...