Deferred costs | Accounting Onion

tom.selling@accountingonion.com

AS 5: The Latest Chapter in the SOX 404 Saga

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Following an extended comment period, Auditing Standard No. 5, which supersedes AS 2, was approved by the SEC on July 25, 2007. Now that another chapter in the regulatory saga of SOX 404 is complete, it is time once again…

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EITF Consensus 07-03, Accounting for Nonrefundable Advance Payments for Goods or Services to Be Used in Future Research and Development Activities, is very straightforward and basic; so much so that it might require less than one class period of Accounting…