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When we record the research an development expenses in income statment or in the statment of financial position?
in General IFRS Discussion by

1 Answer

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It should be as per IAS 38 Intangible Assets

Research phase - expense costs as incurred.

Development phase - Capitalise if all criteria are met:

- Technical feasibility of completion of
intangible asset

- Intention to complete

- Ability to use or sell the intangible asset

- Adequate technical, financial and other
resources to complete

' Probable future economic benefits

- Expenditure measured reliably.|