Development and Draft Delegated Act: Difference between pages

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1.  ''Financial reporting - research and development.''
''Sustainability - European Union - European Commission - Taxonomy Regulation.''


The phases of a project generally include:
Draft legislation to implement the EU's Taxonomy Regulation.


:(1) Research.


:(2) Development.
:<span style="color:#4B0082">'''More granularity'''</span>


:(3) Commercial production or use of the new or improved items in the market.
:Compared to the TEG’s March 2020 report, this Draft included more granularity for the classification of activities in manufacturing, energy, transport and building sector.  


:Sub-categories have been created within existing sectors, in addition to newly created sectors such as “Information & communication”, “Professional, scientific & technical activities”, “Financial & insurance activities”, “Education”, “Human health & social work activities” and “Arts, entertainment & recreation”.


For the purposes of financial reporting, development is the ''application of research findings'' or other knowledge to a plan or design for the production of new or substantially improved materials, devices, products, processes, systems or services before the start of commercial production or use.
:''Association of Corporate Treasurers ESG blog, Naresh Aggarwal, Associate Director, Policy & Technical, 21 January 2021''.
 
 
Financial reporting standards generally require development costs to be capitalised only after technical and commercial feasibility of the asset for sale or use have been established. This means that the entity must (1) intend and be able to complete the intangible asset and either use it or sell it ''and'' (2) be able to demonstrate how the asset will generate future economic benefits.
 
On the other hand, all ''research'' costs are expensed.
 
 
Relevant accounting standards include IAS 38 and Section 18 of FRS 102.
 
 
2.  ''Information technology (IT).''
 
Design and implementation of IT solutions, generally including writing the related software code.
 
For example, ''end user development.''
 
 
3.  ''International relations - sustainability.''
 
In the context of international relations, development often relates to a particular country or region and includes increasing:
 
*Per capita income;
*Participation in the international financial system; and
*Diversification of export goods.
 
 
4.  ''Real estate.''
 
Real estate development means increasing the value of land and buildings by making improvements or putting up new or replacement buildings.
 
The block of land and improved - or completed - buildings is also sometimes known as a development.
 
 
5.  ''Learning and development.''
 
Enhancing personal skills and behaviours, especially through practice and the application of learning.
 
 
6.  ''Business development.''
 
Systematic work to increase business revenues sustainably over time.
 
 
7.
 
More broadly, any significant change, or the activities that bring about the significant change.




== See also ==
== See also ==
* [[Business development]]
* [[EU Taxonomy]]
* [[Capitalise]]
* [[European Commission]]
* [[Code]]
* [[European Union]]
* [[Continuing professional development]] (CPD)
* [[Granular]]
* [[Developer]]
* [[Taxonomy Regulation]]
* [[Development bank]]
* [[TEG]]
* [[End user development]]
* [[Expense]]
* [[FRS 102]]
* [[GSMA]]
* [[IAS 38]]
* [[Ideation]]
* [[Intangible assets]]
* [[Information technology]]
* [[Intellectual property]]  (IP)
* [[International development agency]]
* [[Mobile for Development]]  (M4D)
* [[Proof of concept]]
* [[Research]]
* [[Research & development]]  (R&D)
* [[Software]]
* [[Sustainable Development Goals]]  (SDGs)


[[Category:Accounting,_tax_and_regulation]]
[[Category:Accounting,_tax_and_regulation]]
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[[Category:Corporate_finance]]
[[Category:Corporate_finance]]
[[Category:Investment]]
[[Category:Investment]]
[[Category:Long_term_funding]]
[[Category:Compliance_and_audit]]
[[Category:Ethics]]
[[Category:Identify_and_assess_risks]]
[[Category:Identify_and_assess_risks]]
[[Category:Manage_risks]]
[[Category:Manage_risks]]
[[Category:Risk_frameworks]]
[[Category:Risk_frameworks]]
[[Category:Risk_reporting]]
[[Category:Financial_products_and_markets]]
[[Category:Financial_products_and_markets]]

Latest revision as of 21:02, 28 April 2022

Sustainability - European Union - European Commission - Taxonomy Regulation.

Draft legislation to implement the EU's Taxonomy Regulation.


More granularity
Compared to the TEG’s March 2020 report, this Draft included more granularity for the classification of activities in manufacturing, energy, transport and building sector.
Sub-categories have been created within existing sectors, in addition to newly created sectors such as “Information & communication”, “Professional, scientific & technical activities”, “Financial & insurance activities”, “Education”, “Human health & social work activities” and “Arts, entertainment & recreation”.
Association of Corporate Treasurers ESG blog, Naresh Aggarwal, Associate Director, Policy & Technical, 21 January 2021.


See also

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