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a) Discuss how to recognise the research and development expenditures in accordance with the IASB Conceptual Framework and IASB 38 Intangible assets. b) Discuss why
a) Discuss how to recognise the research and development expenditures in accordance with the IASB Conceptual Framework and IASB 38 Intangible assets. b) Discuss why the Conceptual Framework can be seen as a normative accounting theory and the usefulness of the Conceptual Framework. (7 marks) c) Discuss why IAS 12 Income Taxes recommends the liability method to account for deferred tax. (6 marks) d) Critically discuss the benefits and limitations of accounting for deferred tax. (11 marks)
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