[jgmart04]

Based off of the research I have done, in-process acquired R&D should be classified as an intangible asset with an indefinite life until the R&D project is complete or the project is abandoned. They are originally recorded at fair value and subject to impairment. My question is, do we net this when determining the overall acquisition gain/goodwill? I take the exam Friday and my brain is at max capacity. Any J/E that somone has time to create would be amazing. I’m having difficulty with grasping this material and am looking for someone to explain it to me like I’m a five year old. (Denzel Washington voice) “Philadelphia”? Anyone? whatever. I need sleep.