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What are the costs that are to be included in r...

What are the costs that are to be included in research as per AS 26?

What are the costs that are to be included in research as per AS 26?

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Jeeba Mar. 16, 2018

AS 26 "intangible Assets", states that costs that are incurred in research of project can not be recognised as intangible assets. So the expenses incurred for the research phase should be recognised as expenses and charged to P&L account.

the followings are the some examples of research costs:

  • Costs of activities with a view to obtaining new knowledge;
  • Cost incurred for the search, evaluation, selection and application of research findings.
  • Costs of the search for alternatives for materials, devices, products, processes, systems or services; and
  • Costs of the activities involved in formulation, design, evaluation and final selection of possible alternatives for new or improved materials, devices, products, processes systems or services.”

What are the costs that are to be included in research as per AS 26?

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