Monday, August 2, 1999
Falling victim to inconsistencies in its own rulemaking, the Financial
Accounting Standards Board has given up proposed changes to the rules governing accounting
for purchased in-process research and development. Instead, FASB may reconsider its
position on R&D accounting as a whole.
According to Michelle Krupa, FASB's project manager on in-process
R&D, the board ran into a snag while trying to reconcile how governance of purchased
R&D costs could be made consistent with