Members of the ruling Council of the American Institute of CPAs at their meeting here passed a resolution supporting the development of generally accepted accounting principles for privately held, for ...

Companies incur costs to create new products, design new processes, or improve existing ones. They also incur costs developing software, medical or industrial techniques, or formulaic combinations ...

According to the Financial Accounting Standards Board, or FASB, generally accepted accounting principles, or GAAP, require that most research and development costs be expensed in the current period.