(a) Distinguish between research and development within the context of IAS38 Intangible Assets. (b) State, with reasons,...
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(a) Distinguish between research and development within the context of IAS38 Intangible Assets.
(b) State, with reasons, how the following expenditure would be dealt with in the financial statements of Prebnez plc to conform with IAS38:
(i) Money spent on a joint project with a university investigating the potential use of carbon nanotubes for the storage of digital data.
(ii) Expenditure on developing a new high speed hard disk which, in the opinion of Prebnez plc, has an assured and profitable market. Work has been suspended pending the development of a new glue suitable for the construction of the disk drives. (CIPFA)
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a Research is the systematic investigation or study to discover or revise facts principles theories ...View the full answer
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