Research Project - Research and Development Costs Cressman...

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Unformatted text preview: Research and Development Costs Cressman US GAAP Material used for research 240,000 Materials used for development 160,000 500,000 Personnel costs of remployees involved in research 600,000 Personnel costs of employees involved in development 400,000 Consulting fees paid to outsiders for research 20,000 Consulting fees paid to outsiders for development 80,000 Indirect costs reasonably allocable for research 130,000 Indirect costs reasonably allocable for development 70,000 Total R&D-US GAAP 2,200,000 Research and Development Costs Cressman IFRS 1. Under IAS No. 30 a distinction is made between research and development activities. Research is expensed in period incurred. Development expenditures are capitalized as an intangible asset if development cost can be measured reliably, the product or process is technically and commercially feasible, future economic benefits are probable and if the intent...
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This note was uploaded on 02/15/2010 for the course ACCT 302 taught by Professor Baltimore during the Spring '10 term at University of Baltimore.

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Research Project - Research and Development Costs Cressman...

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