Accounting_for_Research_and_development_cost - Monograph on...

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Monograph on Accounting for Research and Development Costs MONOGRAPH ON ACCOUNTING FOR RESEARCH & DEVELOPMENT COSTS PREFACE The advent of WTO related issues have once again surfaced on a strong platform, after 1 st January, 2005, when the new patent, IPR regime will come into full effect. The main theme of “ Competency Building under Global Competition under WTO scenario”, opens the key issues relating to Accounting of Research and Development Costs. The Institute of Cost and Works Accountants Of India, had come out with a major treatise on “ Management and Accounting for Research and Development – The Indian Praxis” by Prof. S.K.Chakraborty in collaboration with Mr. Bipul K.Bhaumik, in the year 1984. The macro and micro level issues on Research and Development Costs were deliberated in detail in the publication. The current brief update on Accounting for Research and Development Costs, takes off from the earlier views and opens the area, that has to evolve in Accounting for Research and Development Costs. The Chapter on “Product and Project Costing and Monitoring of R & D Costs” is thorough analysis of R&D Costs replete with practical examples and the author as well as the Committee felt that it will be most appropriate to include it as part of this monograph. The Accounting Standard –8 – Accounting for Research and Development is also included as a reference, as the accounting treatment is a key issue on the treatment of Research and Development Costs. We hope that this brief monograph, evolves standard practices in future, that can be helpful to the management accounting fraternity and various users.
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Monograph on Accounting for Research and Development Costs We thank Mr.S.Srinivasan, Cost Accountant, Chennai, who alongwith Mr.S.Ganapathisubramanian, Cost Accountant, Chennai, helped in producing this well thought out monograph. We also acknowledge the help rendered by S/Sri.A.S.Durgaprasad, A.N.Raman, J.S.Anand, K.S.Subramanian and R.Narayanan, as part of the Technical Committee, for providing valuable technical support for the publications. We are also grateful to Dr.H.R.Subramanya, President, ICWAI, who germinated the idea of bringing out special publications on topical issues and which will form the plank on which the future guidance notes and cost accounting standards will emanate. M.Gopalakrishnan Chairman- Technical Committtee. Diamond Jubilee Celebrations.
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Monograph on Accounting for Research and Development Costs MONOGRAPH ON ACCOUNTING FOR RESEARCH & DEVELOPMENT COSTS INDEX Sl.No Topics 1 Research & Development Scenario in India 2 Private Sector Initiative 3 Need for Fresh Approach 4 Types of R & D Activity 5 Evolution of Accounting Standards 6 Provisions in the Cost Accounting Records Rules 7 Provisions in the Cost Audit (Report) Rules, 2001 8 Practices in some Leading Companies 9 Earlier Research by ICWAI 10 Issues to be included in the Suggested Guidelines 11 Product and Project Costing and Monitoring of R & D Costs
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Monograph on Accounting for Research and Development Costs
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