Under IFRS, money spent on research by companies in the biotechnology, pharmaceutical, high technology, and other industries isn 't reported on the balance sheet as an asset In your opinion, is the money companies spend on research an asset Explain your thinking Based on what you read in this chapt...

Various opinions could be offered on this matter The essential issue here is the uncertainty ab ...

Under IFRS, money spent on research by companies in the biotechnology, pharmaceutical, high technology, and other industries

Question:

Under IFRS, money spent on research by companies in the biotechnology, pharmaceutical, high technology, and other industries isn't reported on the as an asset. In your opinion, is the money companies spend on research an asset? Explain your thinking. Based on what you read in this chapter, why do you think money spent on research isn't considered an asset according to IFRS? What do you think the implications of this treatment of research costs are for ?

Stakeholders
A person, group or organization that has interest or concern in an organization. Stakeholders can affect or be affected by the organization's actions, objectives and policies. Some examples of key stakeholders are creditors, directors, employees,... Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...