Research and development costs are treated the same under GAAP and IFRS.

Name: Research and development costs are treated the same under GAAP and IFRS.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

GAAP requires immediate expensing of research and development costs, while IFRS allows for capitalization of development costs if certain criteria are met. Therefore, the treatment of research and development costs differs between the two accounting standards.

Research and Development Costs Are Treated the Same Under GAAP