Is R&D an Identifiable or Unidentifiable Intangible Asset?

CFA Level I FRA
#1

Is R&D an Identifiable or Unidentifiable Intangible Asset?

There is no clear explanation in the book, and I’d like to know this in order to know which measurement base use under IFRS or GAAP.

Thanks for the help!

#2

R&D is typically expensed under both IFRS and GAAP. If you are referring to capitalized development costs such as internally developed software, it is typically an identifiable asset in the case of an acquisition.

Here is an example from an actual 10-K. Look at page 45 where they break out the intangible assets and notice the line for developed technology (proprietary).

https://www.sec.gov/Archives/edgar/data/836157/000119312516740910/d267725d10k.htm

#3

R&D is typically only capitalized under GAAP once there is clear distinction that the development phase will reap future benefit

#4

I thought this was the case for only internally developed software?