在美國會計財務會計準則之下，併購之研發中資產是否為資產

Abstract

In December 2007, Financial Accounting Standard Board (FASB) issued a revised version of Statement of Financial Accounting Standards No. 141 (SFAS No. 141(R)) which has changed the accounting policies of acquired in-process research and development (IPRD). Since December 15, 2008, the acquiring companies have to record acquired IPRD as an intangible asset with an indefinite life regardless of alternative future usages. After the business combination, it is subject to impairment testing annually. This change motivates the following study. In the past, IPRD was considered as an expense if it did not have alternative usages. This study examines whether IPRD is worthy of capitalizing as an asset. As an asset, IPRD should reflect the market value of firms and the subsequent benefits. My results do not support that IPRD is an asset from the investors’ views or the subsequent cash-flows.