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I will attach files and was hoping if you can help me with my homework. I've started already but I'm stuck. each milestone one paper.

I will attach files and was hoping if you can help me with my homework. I've started already but I'm stuck. each milestone one paper. image text in transcribed

You have been hired as a consultant for XYZ Research Co. XYZ Research Co. incorporated in 2010. XYZ 's business centers on developing new technology for interplanetary exploration. The company has many patents and has historically expensed all of the costs associated with obtaining their patents. The owners of XYZ Labs are unsure whether or not if any or all of its patent costs can be capitalized. They also are unsure if any impairment testing should be done periodically on their patents. You have been asked by the owners to look into these issues and provide the appropriate accounting treatment for patents. In order to properly understand Case 2, we should understand these 3 key terms (1) patent, (2) capitalized, and (3) Impairment. Patent is the exclusive right granted by a government to an inventor to manufacture, use, or sell an invention for certain years. Capitalized is to set up as business assets in the books of account instead of treating as expense. Impairment is the state of being diminished, weakened, or damaged, especially mentally or physically. Milestones Gather data from multiple sources and present that data in one to two pages (12-point font, double-spaced). Be sure to document your sources. Organize and interpret the findings of your research in one to two pages (12-point font, double-spaced). Develop your recommendations and conclusions and state them and their rationale in one to two pages (12-point font, double-spaced). Using the guidelines above, prepare a comprehensive research memorandum on the case that you chose

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