Question: Explain research and development costs and how they must be reported on the financial statements under US GAAP. Explain the metrics used to analyze a

  1. Explain research and development costs and how they must be reported on the financial statements under US GAAP.
  2. Explain the metrics used to analyze a company's accounts receivable and how the results are interpreted to support management decision making.

Explain the following concepts:

  1. 'Aging' of accounts receivable
  2. Pro forma income

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