Researching Original FASB Standards Using the FASB website locate the original (superseded) standard FASB Statement No. 2, Accounting for Research and Development Costs (as amended). In approximately one paragraph, describe the treatment of research and development costs required by this standard, and cite the FASB standard and paragraph number that provides this guidance. State also which disclosures are required. Was there uniform guidance for reporting research and development costs prior to this standard? What alternative accounting methods for recording research and development costs were considered in developing this standard? Explain key factors that led the Board to select the accounting treatment that it did.