Intangible Assets: Goodwill, Research and Development – ACCA Financial Accounting (FA) lectures
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Free ACCA lectures for the ACCA Financial Accounting (FA) Exam
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Accounting for R&D Activities, R & D cost, research and development cost, intangible assets, initial operating cost, start-up cost, advertising cost Video Rating: / 5
Accounting for research and development (R&D), whats included and accounting treatment, R&D costs are not themselves intangible assets, they often result in the development of patents or copyrights (new products, processes, ideas, etc.) that provide future value that are intangible assets, Costs associated with R&D activities & accounting treatment:1-Materials, Equipment & Facilities R&D: Expense entire cost unless the items have alternative future uses, if there are alternative future uses, carry items as inventory & allocate as consumed or capitalize & depreciate as used to R&D expense, 2- Personnel: Expense as incurred salaries, wages, and other related costs of personnel engaged in R&D, 3- Purchased Intangibles: Recognize & measure at fair value, account for in accordance with their use (either limited life or indefinite life intangibles), 4-Contract Services: Expense the costs of services performed by others in connection with R&D incurred, 5-Indirect Costs: Include reasonable allocation of indirect costs in R&D costs, except for general & administrative cost, which must be clearly related to R&D inorder to be included in R&D, discussion by Allen Mursau
