These are things I've read and heard, but you can never be 100% sure that the sources are right., if the source isn't Michael himself. An example: Jermaine said MJ's favourite colors were gold and red, Taraborrelli said in his book that it was yellow, so who are you going to believe...
GAAP, however, generally requires that these costs be expensed when incurred because it is difficult determine their future benefits and relation to future revenues (the matching principle). Unless there are large amounts of organizational expenses, they are usually expensed for GAAP and financial reporting purposes.
Generally Accepted Accounting Principles (GAAP). Entities with international headquarters are subject to the International Financial Reporting Standards or IFRS framework. How do we account for a PPA under either GAAP or IFRS standards? Certain deal structures or terms will trigger different types of accounting considerations under GAAP or IFRS. As PPA deals have characteristics similar to financial swaps and leases, it is important to explore â early on â whether or not they will prompt mark-to-market accounting, lease accounting, or consolidation.