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Research and Development - Intangible assets - Ind AS 38

Research and Development - Intangible assets - Ind AS 38 

IFRS Course Online  : Research Phase is when all the prices incurred during this phase are expensed with no reversal within the future and charged to profit & loss a/c

No intangible arising from research (or from the research phase of an indoor project) shall be recognized.

Development phase- when an asset meets development stage criteria, any costs incurred thereafter are capitalized within the cost of internally generated intangible

An intangible arising from development shall be recognized if, and as long as, an entity can demonstrate all of the following:

the technical feasibility of completing the intangible in order that it'll be available to be used or sold.
its intention to finish the intangible and use or sell it.
its ability to use or sell the intangible.

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