Research

1. Financial reporting - research and development.

For the purposes of financial reporting, research is original and planned investigation undertaken with the prospect of gaining new scientific or technical knowledge and understanding.

Financial reporting standards generally require all research costs to be expensed.

On the other hand, certain development costs are capitalised.

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

2.

More broadly, any systematic investigation to establish facts or principles, or to collect and organise information.

See also

• Capitalise
• Development
• Expense
• FRS 102
• IAS 38
• Ideation
• Intangible assets
• Intellectual property
• Proof of concept
• Research and development
• Reserve cash