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U.S. GAAP Codification of Accounting Standards |
| U.S. GAAP Codification | Accounting Standards, ASC |
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U.S. GAAP
Codification of Accounting Standards |
| U.S. GAAP Codification Updates |
| Principles of Accounting, Intermediate Accounting, Advanced Accounting |
| Accounting Terms |
| Codification Topic 730 Research and Development Research and Development Costs SFAS 2, October 1974 "Accounting for Research and Development Costs" General rule for research and development costs Research and development costs are --> charged to expense when incurred --> because future economic benefits are uncertain Research and development (R&D) costs 1. tangible assets 2. intangible assets 3. personnel costs 4. indirect costs 5. contract costs 6. computer software costs Tangible assets acquired for R&D activities 1. If the assets have alternative future uses --> capitalized as an asset --> cost of consumption or depreciation is charged to expense 2. If the assets do not have alternative future uses --> expensed at the time of acquisition Intangible assets acquired for R&D activities 1. If the assets have alternative future uses --> capitalized as an asset --> amortization is charged to expense 2. If the assets do not have alternative future uses --> expensed at the time of acquisition Personnel costs, indirect costs, contract costs --> expensed when incurred Computer software costs 1. Software developed internally for R&D activities --> all costs are expensed when incurred --> alternative future uses are not considered --> development phases are not considered 2. Software purchased for R&D activities (1) if the software has alternative future uses --> capitalize as an intangible asset --> amortization is charged to expense (2) if the software does not have alternative future uses --> expensed when incurred |
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Codification Topic 730 Research and Development |
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Subtopics of Codification Topic 730 730-10 Overall 730-20 Research and development arrangements |
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Accounting Terms of Codification Topic 730-10 Research and development |
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Accounting Terms of Codification Topic 730-20 Probable Related parties sponsor |
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