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.
GAAP (US Generally Accepted Accounting Principles) is the accounting standard used in the US, while IFRS (International Financial Reporting Standards) is the accounting standard used in over 110 countries around the world.S GAAP (or FASB) framework has no provision that expressly requires management to consider the framework in the absence of a standard or interpretation for an issue. Under IFRS, company management is expressly required to consider the framework if there is no standard or interpretation for an issue.