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FASB Summaries |
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Statement No. 68 Research and Development Arrangements STATUS Issue Date: October 1982 Effective Date: For research and development arrangements entered into after December 31, 1982 Affects: No other pronouncements Affected by: No other pronouncements Other Interpretive Pronouncement: FTB 84-1 Abbreviations for Accounting Pronouncements FAS - FASB Statements FIN - FASB Interpretations FTB - FASB Technical Bulletins APB - APB Opinions AIN - AICPA Interpretations ARB - Accounting Research Bulletins CON - FASB Concepts EITF - EITF Issues Q&A - FASB Implementation Guides SUMMARY This Statement specifies how an enterprise should account for its obligation under an arrangement for the funding of its research and development by others. The enterprise must determine whether it is obligated only to perform contractual research and development for others, or is otherwise obligated. To the extent that the enterprise is obligated to repay the other parties, it records a liability and charges research and development costs to expense as incurred. Copyright by Financial Accounting Standards Board. All Rights Reserved. Used by Permission.
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