Can anyone help me?
System
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Hi Ya
Sorry to be a pain but i am at a loss at the moment on what i should do.
I work for a charity and we have just been given an invoice for research which our CEO wants capitalised but i am sure that we cannot capitalise it. It is for £5000 and is purly for research.
Any help would be much appreciated
Sorry to be a pain but i am at a loss at the moment on what i should do.
I work for a charity and we have just been given an invoice for research which our CEO wants capitalised but i am sure that we cannot capitalise it. It is for £5000 and is purly for research.
Any help would be much appreciated
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Comments
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Re:Can anyone help me?
Hi Crawley.
Research and Development costs can be capitalised if they meet certain criteria.
Scott.0 -
Re:Can anyone help me?
Do you know how i would find out anything about this?
Any advice would be much appreciated0 -
Re:Can anyone help me?
Charities have their own rules and regulations. I would speak to an accountant, preferably one who deals with charities.
Scott.0 -
Re:Can anyone help me?
Thanks for your help scotty
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Re:Can anyone help me?
Only development costs can be capitalised if they reach certain criteria - research costs must always be expensed. (Any charity rules notwithstanding)0 -
Re:Can anyone help me?
I would have thought than unless this research is actually going to provide you with some definite
financial benefit in the future, you can only treat it as an expense.
I'm a treasurer and a trustee for a small local charity (voluntary for last 10 years), I would have thought it would be very difficult for a charity to have research capitalised.
Has he got a reason for this request?0 -
Re:Can anyone help me?
Only development costs that meet certain criteria can be capitalised. Research needs to be treated as an expense. Have a look at the IAS website.0