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.
Companies in the United States operate under the generally accepted accounting principles, or GAAP, which allows for all three methods to be used. Most other countries use the International Financial Reporting Standards, or IFRS, which forbids the use of the LIFO method. GAAP and IFRS also differ on inventory reversal write-downs and costing formulas. While these two systems are different in many ways, they have some similarities for inventory costing.