Under U.S. GAAP (ASC 720-35), companies can either expense advertising costs as incurred or expense them when the first advertising takes place. Under IFRS (IAS 38.69), companies must expense advertising costs as incurred. U.S. GAAP distinguishes between the costs of producing advertising and the costs of communicating advertising. This distinction is important, as companies may use different methods for expensing each type of cost. Under U.S. GAAP, insurance companies may capitalize the cost of direct-response advertising if certain criteria are met; under IFRS, the cost of direct-response advertising is never capitalized. The cost of tangible assets used in advertising are depreciated or amortized over their expected useful lives. Under U.S. GAAP, the cost of sales materials is treated as prepaid supplies and expensed the when the sales materials are no longer owned or expected to be used (under IFRS, they are expensed when the entity has the right to access …
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This is a quick update on me and my channel for 2024.— Edspira is the creation of Michael McLaughlin, an award-winning professor who went from teenage homelessness to a PhD. Edspira’s mission is to make a high-quality business education freely available to the world.— SUBSCRIBE FOR A FREE 53-PAGE GUIDE TO THE FINANCIAL STATEMENTS, PLUS: • A 23-PAGE GUIDE TO MANAGERIAL ACCOUNTING• A 44-PAGE GUIDE TO U.S. TAXATION• A 75-PAGE GUIDE TO FINANCIAL STATEMENT ANALYSIS• MANY MORE FREE PDF GUIDES AND SPREADSHEETS* http://eepurl.com/dIaa5z— SUPPORT EDSPIRA ON PATREON*https://www.patreon.com/prof_mclaughlin— GET CERTIFIED IN FINANCIAL STATEMENT ANALYSIS, IFRS 16, AND ASSET-LIABILITY MANAGEMENT * https://edspira.thinkific.com — LISTEN TO THE SCHEME PODCAST * Apple Podcasts: https://podcasts.apple.com/us/podcast/scheme/id1522352725 * Spotify: https://open.spotify.com/show/4WaNTqVFxISHlgcSWNT1kc * Website: https://www.edspira.com/podcast-2/ — GET TAX TIPS ON TIKTOK * https://www.tiktok.com/@prof_mclaughlin — ACCESS INDEX OF VIDEOS * https://www.edspira.com/index — CONNECT WITH EDSPIRA * Facebook: https://www.facebook.com/Edspira * Instagram: https://www.instagram.com/edspiradotcom * LinkedIn: https://www.linkedin.com/company/edspira — CONNECT WITH MICHAEL * Twitter: https://www.twitter.com/Prof_McLaughlin * LinkedIn: https://www.linkedin.com/in/prof-michael-mclaughlin — ABOUT EDSPIRA AND ITS CREATOR * https://www.edspira.com/about/* https://michaelmclaughlin.com
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