Case Study: Week 6 Deliverables

561 Words3 Pages
Keller University College of {________________________} Pomona, California XYZ Research Co. Course Project – Week 6 Deliverables By Melissa Campos Mmcampos11@yahoo.com Submitted in Partial Fulfillment of the Course Requirements for Professional Research for Accountants Acct 540 - 68292 Professor Kuhn April 11, 2015 XYZ Research Co. Course Project – Week 6 Deliverables: Develop your recommendations and conclusions and state them and their rationale in one to two pages (12-point font, double-spaced). XYZ Research Co. is a research Company which focuses its business on developing new technology for interplanetary exploration. Assuming that XYZ Labs and XYZ Research are one entity, I will be taking the approach that they are internally developing their patents through their…show more content…
should conduct impairment testing on all of their patents at each reporting period. The impairment test should consist of comparing the fair value of the intangible asset with its carrying book value. If the carrying book value of the intangible asset surpasses its fair value, an impairment loss must be recognized in the amount equal to that excess amount. Therefore, I recommend that XYZ Research Co. conduct impairment testing on all of their patents, capitalized or not, at the end of each reporting period. References 350-30-25: Intangible - Goodwill and othe; General Intangibles Other Than Goodwill; Recognition. (2015, March). Retrieved from FASB Accounting Standards Codification: https://asc.fasb.org/viewpage?ovcmd=goto&codification_text=350-30-25-3&codification_submit=GO+TO 350-30-35: Intangibles - Goodwill and Other, General Intangibles Other Than Goodwill, Subsequent Measurement. (2015, March). Retrieved from FASB Accounting Standards Codification:

More about Case Study: Week 6 Deliverables

Open Document