(a)
International Financial Reporting Standard (IFRS): An international standard for identifying, analyzing, and recording the transactions related to money or money’s worth for a considered period are compiled under the head International Financial Reporting Standard (IFRS). It gives detailed instruction on the procedure of recording the business transactions.
To determine the accounting treatment of research cost.
(b)
To determine and prepare
(c)
To determine the way to record patent amortization.
(d)
To determine the accounting treatment for the research and development cost.
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