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But even here early adoption of FAS 123R by Company A versus late adoption by Company B made simple comparisons of eps and P/E ratios between these companies less easy.

On the possibility of optimal accounting principles. Their results have been almost uniformly pessimistic in terms of the possibilities for favorable resolution of this issue. Upon further analysis, these results are revealed to be an artifact of the way in which the issue is initially formulated.But clients and auditors generally contend that the cost of doing this greatly exceeds benefits.And teaching financial accounting would become exceedingly complicated if we had to teach two sets of standards on an equal basis.In your answer, specifically consider how you can best answer this question using some basis for assessment. In your answer, specifically state how these business conditions impact the required time period over which the cost of patents may be amortized. () Again examine Abbott Labs 10-Q filing made on May 2, 2008, in particular the footnote disclosure related to intangible assets. What accounting policy is consistent with the description of patent rights' useful lives discussed in answer to question 4 above? () What steps has Abbott Labs undertaken to extend the life of its patent on Tri Cor?Are steps like these a business necessity or merely a method of generating excessive profits for pharmaceutical companies?

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