Working Draft of AICPA Guide Assets Acquired to Be Used in Research and Development Activities

The AICPA’s Financial Reporting Executive Committee (FinREC) has issued a working draft of the AICPA Accounting and Valuation Guide Assets Acquired to Be Used in Research and Development Activities. This guide, which will replace the practice aid that was originally issued in 2001, provides guidance and illustrations for valuation specialists, preparers of financial statements, and independent auditors related to initial and subsequent accounting for, disclosures, and valuation of acquired in-process research and development (IPR&D) assets. This guide addresses many new accounting and valuation issues that have emerged over the years. Interested parties are encouraged to review the working draft and submit their comments.

We are looking for your informal feedback on this working draft. All comments will be kept confidential and will not be posted on the AICPA Web site. If you would like to provide comments, please e-mail them to Yelena Mishkevich at ymishkevich@aicpa.org by May 24, 2012, or you can send them by mail to Yelena Mishkevich, Accounting Standards, AICPA, 1211 Avenue of the Americas, 19th Floor, New York, NY 10036. FinREC and the IPR&D Task Force, which developed this working draft, are looking forward to hearing from you.

The working draft is available to download as a PDF file. Adobe Acrobat Reader is needed to view a file in PDF format, and it is available as a free download from the Adobe Web site at www.adobe.com/prodindex/acrobat/readstep.html. To begin downloading, click on the item below with the right-hand mouse button. Choose the “Save Target As” option if using a Microsoft browser; choose “Save Link As” if using a Netscape browser. Then, save the file to the appropriate location.

Download the Working Draft

Notice to Readers: The AICPA, in its sole discretion, has issued these revisions solely in order to solicit feedback and commentary from the professional community. These revisions do not constitute an official position of the AICPA, is not final guidance, and should not be relied upon as such. Permission to use this content is strictly limited to the intended purpose of review and participation in the comment process. Republication of this material in print, on websites or in any other form, format or media without the express written permission of the AICPA is prohibited. Requests for permission to republish or redistribute this material should be directed to copyright@aicpa.org

A A A

Print Page

Get a free version of Adobe Acrobat Reader