Question: Required 1 Accounting for intangible assets . Discuss relevance versus reliability as they apply to reporting on the intangible assets of the firm. 2 Goodwill

Required
1 Accounting for intangible assets. Discuss relevance versus reliability as they apply to reporting on the intangible assets of the firm.
2 Goodwill. Discuss the pros and cons of the choice between the different possible methods of handling goodwill over time in the financial statements (no amortization, amortization, impairment, immediate write-off).
3 Research and development costs. Discuss the choice between capitalization versus expensing or R&D costs.

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1The implied preference of a GAAP between relevance for a fair description of the asset and for decisionmaking and reliability unambiguousness of the data when choosing how to report intangibles is ob... View full answer

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