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Dear Sir:
I cannot choose between c and d, but I am pretty much in favor of d. Kindly assist.
Thanks,
According to IAS 38 intangible assets, what is the required accounting treatment for research expenditure and development expenditure?
Consider that:
1. Research
2. Development
a) 1 May be capitalized. 2 Must be capitalized in certain circumstances.
b) 1 Must be written off. 2 Must be capitalized in certain circumstances.
c) 1 May be capitalized. 2 Must always be capitalized.
d) 1 Must be written off. 2 Must always be capitalized.The answer is (b) – research must be written off; development must be capitalised if certain criteria apply
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