*** Employee training can create significant amounts of expenditures. In 2018, across all industries, organizations with 100-999 employees spent about $1,096 per employee, organizations with 1,000-9,999 employees spent about $941 per employee, and companies with 10,000 employees or more spent $1,046 per employee on training. Required: Please provide discussion on whether training costs should be recorded as an asset, or be expensed when incurred. Provide your judgement and the rationale for your judgement. You discussion should be based on the conceptual framework, relating to the definition of assets, recognition criteria, and the qualitative characteristics of financial reporting. ***