please can you explain more for me about the development and research expenses under the ifrs . thank you

Question

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

Answer 1

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.|