Research and Development

According to IAS 38:

Research

· Activities aimed at obtaining new knowledge

· The search for applications of research findings or other knowledge

· The search for product or process alternatives

· The formulation and design of possible new or improved product or process alternatives

Development

· The evaluation of product or process alternatives

· The design, construction and testing of pre-production prototypes and models

· The design of tools, jigs, moulds and dies involving new technology

· The design, construction and operation of a pilot plant that is not of a scale economically feasible

for commercial production