Question 2

Intangible Assets: (IAS 38)

During the Corvid crisis of 2020 many businesses responded to Government requests to be innovative to produce new ways to supply much needed Personal Protective equipment. Research was commenced followed by development of new techniques to meet this request.

Critically evaluate the International Standard IAS 38 looking at Research and Development, Identify, critically analyse and recommend changes you believe should be implemented to make this Standard more responsive or critically explain why the current rules are appropriate.

(Total Marks 50)