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Can someone help me to explain simple control procedure to ensure that the R&D are being treated correctly on each items. I kind of understand the principle but I want to know more about how companies generally would do as control steps. Thank you 🙂
Hi,
You need to look at the specific criteria in IAS 38 to help with this. The business would need to meet all the criteria to ensure that they are capitalising the costs appropriately. In an exam question it would be quite clear as to whether they are or are not meeting the criteria.
Thanks
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