FASB ASC 103 best effortbasis addressed three implementation

addressed three implementation issues. List and briefly summarize each of these issues FASB ASC 10-3 Best-Efforts Basis, Research and 0 Development Cost-Sharing Arrangements The FASB ASC provides guidance on accounting for best-efforts basis, research and development cost-sharing arrangements by federal government contractors. Find cite, and copy that guidance. ve

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FASB ASC 10-3 Best-Efforts-Basis, Research-and-Development-Cost-Sharing Arrangements

Search contractors-federal government-research and development 912-730-25

Best-Efforts-Basis, Research-and-Development-Cost-Sharing Arrangements.

25-1 Best-efforts-basis, research-and-development-cost-sharing arrangements within the scope of this Subtopic (see paragraph 912-730-15-2) shall be recognized as research and development expense as incurred in conformity with Topic 730. Because of the cost-sharing nature of these fixed-price, best-efforts-basis, research-and-development-cost-sharing arrangements, the amounts funded by the customer shall be recognized as an offset to the contractor\'s aggregate research and development expense rather than as contract revenues.