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.
FASB's original mission has always been to establish the U.S. GAAP and standards for accounting and financial reporting; however, the mission has been enhanced to include the convergence and harmonization of U.S. standards with international ones (IFRS).FRS does not allow LIFO for inventory valuation whereas the U.S. GAAP provides the option of either LIFO, average cost or FIFO. Under the IFRS the EPS calculation does not average the individual interim period calculations, but the U.S. GAAP does.