We examine whether stock prices fully reflect the value of firms? intangible assets, focusing on research and development (Ramp;D). Since intangible assets are not reported on financial statements under current U.S. accounting standards and Ramp;D spending is expensed, the valuation problem may...

Part A – Accounting and Financial Reporting -- Chapter 1: Introduction to Accounting for Inter-Corporate Investments -- Chapter 2: Main Issues in Purchase Accounting -- Chapter 3: More Issues in Purchase Accounting -- Chapter 4: Spin-Offs and Equity Carve-Outs -- Chapter 5: Special Purpose...

"FRS 10" requires investments in player contracts by football companies to be capitalized and amortized. Given the high degree of uncertainty associated with such contracts, it is not clear that this treatment is consistent with asset capitalization criteria. The evidence provided in this paper...