Research the current guidance for accounting for intangible assets, both internally developed and purchased, and prepare a memo detailing this accounting treatment. Make sure to also include the footnote disclosure requirements in your memo. Include the proper FASB Codification reference (when you make reference to the FASB Accounting Standards Codification in your memo you should do so in the following way: "FASB ASC XXX-XX-XX-X states... ").

In addition, research the current guidance for accounting for research and development costs and include a description of accounting treatment in your memo. Distinguish between the accounting treatment for general R&D and that for R&D for computer software. Make sure to also include the footnote disclosure requirements in your memo. Include the proper FASB Codification reference (when you make reference to the FASB Accounting Standards Codification in your memo you should do so in the following way: "FASB ASC XXX-XX-XX-X states... ").