Abstract
Research is a deliberate planned investigation carried out with the aim of developing and acquiring new technical or scientific knowledge and understanding. On the other hand, development refers to the application of the research findings or other useful knowledge to plan, design new products or improve the firm’s final products, devices, process of manufacturing, systems or services, usually before commercial production. Different firms account for R&D costs a bit differently depending on whether they follow local standards or international standards. The accounting for R&D cost has evolved since 1974 this has been due to views of different accountants on ...
