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
