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Question 1 Explain how these pharmaceutical companies would account for these vaccines under Generally Accepted Accounting Principles Generally Accepted Accounting Principles for pharmaceutical companies include revenue flow which arises from royalties and dividends. These companies can also account for the vaccines by following the accrual GAAP which states that the vaccines are viewed as expenses, hence deb

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ited into the expense account but credit the same amount into the accrued liabilities account. Question 2 As you can probably imagine, there is an ongoing controversy as to how R&D costs should be accounted for. Do you think that it is right that these companies account for these vaccines in these ways? Why? Discuss your point of view The research and development costs should be recorded as expenses as required by GAAP. agree that the R&D expenditure falls under the goodwill and intangible asset...

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