[IMGCAP(1)]The AICPA recently issued an Accounting and Valuation Guide on assets acquired to be used in research and development activities, replacing a practice aid it issued in 2001 for in-process research and development.

Since the issuance of the 2001 practice aid, amounts allocated to IPR&D have continued to grow. Accounting guidance has also changed significantly with the issuance of SFAS 157 (now ASC 820) relating to fair value and SFAS 141(R) (now ASC 805) relating to business combinations.

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