Accounting rulewriters decided to forgo for now a project tackling corporate financial reporting related to research and development activities like the design and testing of artificial intelligence tools.
The Financial Accounting Standards Board voted Wednesday against adding a project to its technical agenda focused on tweaking guidance around research and development, or R&D, to modernize it for today’s technology-focused economy. The discussion was part of the board’s broader research on how to improve accounting for intangible assets like patents and copyrights.
Intangibles that companies internally create can drive significant value, but they’re often not reflected on corporate balance sheets until ...
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