Accounting for Research and Development Costs : FASB Statement No. 2
- What are the objectives of FASB Statement No. 2?
- How are "research" and "development" defined in Statement No. 2?
- How are research and development costs to be accounted for under Statement No. 2?
- Are the costs of materials and equipment or facilities that are acquired or constructed for research and development activities and that have alternative future uses considered to be R&D costs? Explain.
- Are the costs of materials and equipment or facilities that are acquired or constructed for a particular research and development project and have no alternative future uses considered R&D costs? Explain.
- What disclosures are necessary under Statement No. 2
- How does IFRS's concerning R & D costs differ from U.S. GAAP?