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IAS 38 INTENGIBLE ASSETS

Rafiquzzaman Khandaker

3 Aug, 2012

An intangible asset is an identifiable non-monetary asset without physical substance.

Research and development expenditure

Definition

Research -investigation undertaken to gain new scientific knowledge and understanding

Development -application of research findings before the start of the commercial production or use

Accounting treatment
Research costs - write off to income statement
Development costs - capitalize if criteria met
Note: Amortize capitalized development costs over useful life

Download ACCA Technical Article on Research and development expenditure

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