The FASB sometimes deals with uncertainty by not recognizing certain items in the financial statements. This uncertainty

Question:

The FASB sometimes deals with uncertainty by not recognizing certain items in the financial statements. This uncertainty may explain the rule that companies cannot record their expenditures on internally developed intangibles as assets. However, in other cases the RASB requires companies to record highly uncertain amounts as liabilities. For example, the estimates of what companies will have to pay for post-retirement medical benefits are very uncertain. Is there a good reason for the different treatments of these two items?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Question Posted: