Home For AAT student members AQ 2013 AAT Level 4 (Level 8 in Scotland)
Current updates regarding coronavirus (Covid-19) and the precautions AAT are taking will be continually updated on the below page.

Please check this link for the latest updates:
We hope you are all safe and well and if you need us we will be here. 💚

Development costs

Can someone help with regards to the classification of development costs. If a business starts developing a product and is certain it will take 3 years for it to be completed to generate income and it meets all the criteria of IAS 38 with regard to capitalizing the costs as an asset, assuming the development costs in year 2016 is £100k and still in progress then how do we treat this 100k in the year end accounts for 2016? Product will be completed in year 2018.

Thank you
Sign In or Register to comment.