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Unformatted text preview: research conducted to date would probably result in a marketable product. The deferred research charges are significantly material in relation to both income and total assets. GAAP Departures Is the departure material? Is the departure justified? Can it be “compartmentalized”? Qualified Report Rule 203 Report Adverse Report No GAAP departure identified Standard Report No Yes Yes No Yes Unreasonable estimate Unacceptable actg method Inappropriate application of GAAP Missing or misstated footnote Omitted SCF (except for opinion)...
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- Fall '08
- Balance Sheet, Generally Accepted Accounting Principles, GAAP departure, new pollution-control device, Research Corporation, GAAP Departures