Polynovo Limited (PNV) is a publicity listed company on the Australian Securities Exchange (ASX) in Australia. Polynovo focusses on the development of innovative medical devices for a number of applications. PolyNovo has only one business segment being the development of the NovoSorb technology for use in a range of biodegradable medical devices. Due to the growth of the business, the company wants to expand its business to other markets and list on other stock exchange markets such as London Stock Exchange Group (LSEG) in the UK, New York Stock Exchange (NYSE) in the US and Shanghai Stock Exchange (SSEC) in China. Polynovo seeks advice on reporting its intangible assets, especially the treatment of R&D expenditure.

Identify possible accounting treatments for R&D expenditure in these four countries and explore the possible strengths and weaknesses of each treatment. Among those treatments in four countries, you need to give your own opinion on which treatment is the most suitable for the company from their own perspective and why.