Research & development

(R & D).

Discovering new knowledge about products, processes, services and applying this knowledge to create new and improved products, processes, and services to fulfill market needs.

Relevant accounting standards include IAS 38 and Section 18 of FRS 102.

See also

• Capitalise
• Expense
• FRS 102
• IAS 38
• Ideation
• Intangible assets
• Proof of concept