Assignment Choice #1: Research and Development at Thomas CompanyThe Thomas Company is in the process of developing a revolutionary new product. A new division of the company was formed to develop, manufacture, and market this product. As of the end of the year December 31, 2010, the product has not been manufactured for resale; however, the prototype unit was built and is in operation. Throughout 2010, the division incurred certain costs including design and engineering studies, prototype manufacturing costs, administration expenses (including salaries of administrative personnel), and market research costs. In addition, $500,000 in equipment (estimated useful life of 10 years) was purchased for use in developing and manufacturing the preproduction prototype and will be used to manufacture the product. Approximately $200,000 of this equipment was built specifically for the design and development of the product; the remaining $300,000 of equipment will be used to manufacture a product once it is in commercial production.Required: In the U.S. (SFAS No. 2), development costs are expensed but under the IFRS (IAS 38), many development costs are capitalized. Judge and support which treatment adheres best to the matching principle, basic to the conceptual frameworks of both U.S. GAAP and IFRS.Your well-written paper must be 2-3 pages, in addition to title and reference pages. The paper should be formatted according to the CSU-Global Guide to Writing and APA Requirements (Links to an external site.)Links to an external site.. Cite at least two peer-reviewed sources, in addition to the required reading for the module.
You can get our ideal online homework help services with four easy steps. All you have to do is inform us of your requirements. Immediately we will match with a specialist in your academic discipline. After that, we will track your order, review it to ensure it meets your requirements, and submit it to your email.
Fill in your assignment instructions on the order form
Immediately you contact us for homework help; we will assign your assignment to an academic expert.
We have a team of editors, who will thoroughly review your assignment, ensuring there are no errors before submission
Once we have completed the assignment, we will deliver it to your account. Additionally, we will send a notification to your email.
Once you consult us for homework help online services, you will attest to why we are among the USA's best essay writing services.
Read on and find out some of the features that make our services superlative.
You can confirm that the content you get is original for free using our plagiarism checker.
We offer unlimited access to our essay homework samples.
Once you place an order, we format it accordingly without demanding additional charges.
We offer free unlimited revisions until your assignment is of your desired quality..
We have a team of specialized editors who review your assignment before submission.
You can track the progress of your homework for free.