AICPA Publishes Draft of Updated IPR&D Practice Aid

    The AICPA’s Financial Reporting Executive Committee issued a working draft of the AICPA Accounting and Valuation Guide, Assets Acquired to Be Used in Research and Development Activities. The working draft would replace the current practice aid which was originally issued in 2001 (Assets Acquired in a Business Combination to Be Used in Research and Development Activities: A Focus on Software, Electronic Devices & Pharmaceutical Industries). The working draft includes discussions on accounting and valuation issues that have emerged since the original practice aid was released. The comment period ends March 15, 2012.