Costs of research and development
Costs of research and development

Author(s): Artur Jastrzębowski, Jiří Pospíšil
Subject(s): Economy, Business Economy / Management, Energy and Environmental Studies, Economic development, Environmental interactions, Accounting - Business Administration, Marketing / Advertising, Business Ethics
Published by: Wydawnictwo Uniwersytetu Ekonomicznego w Poznaniu
Keywords: costs;costs of development work;cost of research and development works;cost of research works;CZ GAAP;financial reporting;IFRS;R&D;
Summary/Abstract: Year by year, research and development works constitute an increasingly important element of the functioning of enterprises. Appropriate recording of expenditure and settlement of their effects requires (above all) determination of the actual stage of works. Consequently, there is a distinction between research and development works. Another aspect that determines the principles of recognizing expenditure in the accounting books is to determine whether the developed product/technology belongs to the area economically developed by the unit or to the unrecognized area. The adequate determination will help to place expenses either in the sphere of activity and basic unit orin the sphere of other operating activity. Financial reporting for intangible assets is perhaps one of the most difficult and most controversial topics of financial reporting. In this article it is compared three concepts of financial reporting for R&D costs: IFRS approach, Czech approach for non-profit organizations and Czech approach for profit organizations.

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