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Bài tập trên lớp buổi 6
Bài tập trên lớp buổi 6
Rubens is a company in the pharmaceuticals industry, which spends heavily on research and
development each year. The company’s policy is to capitalize development expenditure
meeting the conditions in IAS 38 Intangible Assets and to amortize it over five years on the
straight line basis beginning when sales revenue is first generated from the developed product.
Amortization is apportioned on a time basis in the first year of amortization.
The company’s finance director has asked you to compute the amounts for research and
development to be included in the financial statements for the year ended 30 September 20X8
in accordance with the company’s accounting policy. The company’s profit is expected to be
about $8 million.
The position as regards research and development at 30 September is as follows:
The company’s ledger accounts for development expenditure and research expenditure, before
amortization and other adjustments for the year ended 30 September 20X8, showed the
following details:
Development Expenditure
A 600
B 2,400
C 3,600 400 4,000
D 1,200 300 1,500
E 800 800
F 400 400
Research expenditure
The balance on the research expenditure account was $1,800,000, representing payments
made during the year ended 30 September 20X8.
Required:
(a) State the criteria, which must be met under IAS 38 Intangible Assets if development
expenditure is to be
capitalized.
(6 marks)
(b) Compute the amounts to be included in the income statements for research and
development expenditure and in the statement of financial position for deferred
development expenditure, and state the heading under which they should be included or
disclosed.
(6 marks)
(c) Prepare notes to the financial statements of Rubens giving the supporting information
required by IAS 38 Intangible Assets and IAS 1 (revised) Presentation of Financial
Statements regarding research and development.