hey guyz, i've got this true/false question about trademark's amortization under U.S GAAP :
Begining with 2002, U.S financial statements, U.S GAAP was changed to require amortization of trademarks on the straight-line basis.
Did this happen ? if yes, then is the year correct ?
To determine if the statement is true or false, we need to verify whether U.S. GAAP was changed to require amortization of trademarks on a straight-line basis beginning with the 2002 financial statements. The best way to find this information is to refer to authoritative sources such as the Financial Accounting Standards Board (FASB).
1. Start by searching for the Financial Accounting Standards Board's website.
2. Once you're on the FASB website, look for the "Accounting Standards Codification" section. This is where all the current U.S. GAAP standards can be found.
3. Navigate to the appropriate section related to intangible assets or trademarks.
4. Look for any relevant pronouncements or standards issued around the time period in question, specifically around 2002.
5. Review the pronouncements or standards to determine if there were any changes regarding the amortization of trademarks on a straight-line basis in the 2002 financial statements.
It is important to note that the information mentioned above is not readily available in this "Explain Bot" AI's database, as it may require accessing the FASB's website or other relevant sources.