1- Please define R & D costs and explain how these are presented in the financial statements...

Question:

1- Please define R & D costs and explain how these are presented in the of a company.
2- Identify the conceptual issues related to research and development costs.
3- How do we treat equipment used for R&D purposes?
4- Describe the accounting procedures for research, development, and similar costs.
Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...