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.
In the United States, also known as GAAP, are used for this purpose. GAAP is a set of accounting standards that provide guidelines and define procedures set by the accounting professional organizations, and are used to prepare the financial statements of a company.lthough, the purpose of GAAP and AASB is to bring effectiveness in the accounting operations so that reliable and relevant financial statements are made available to the stakeholders, yet, there are certain differences between them. Some differences are discussed below.