How are the advertising costs accounted for? Where would deferred advertising costs be reported in the financial statements? Using the element definition from the conceptual frame work, should these deferred advertising costs be recorded as assets in the balance sheet? Why or why not? If so, what measurement attribute should be used in reporting of the asset? These questions relate for PepsiCo and The Coca Cola Companies financial statements for 2015 which can be found on their wbesite.