Question: Briefly explain how research and development (R&D) expenditure should be accounted for according to the requirements of NZ IAS 38. (5 Marks) Briefly explain the

  1. Briefly explain how research and development (R&D) expenditure should be accounted for according to the requirements of NZ IAS 38. (5 Marks)
  2. Briefly explain the potential impacts of the accounting rules for R&D expenditure under NZ IAS 38 on the firm. (5 Marks)
  3. Briefly explain why employee skill is not recognised as an asset. (5 marks)

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