Business, 16.08.2021 14:30 ErrorNameTaken505

Broker is involved in developing new products and has spent 15 millions on acquiring a patent for the development. The initial investigation phase of the project cost and additional 6 million whereby it was determined that the future feasibility of the product was guaranteed. Subsequent expenditure incurred on the product was 8 million, a further 1 million was spent on marketing and 0.5 million on training staff on how demonstrate the use of the product. At the reporting date the product had not yet been completed. Explain how should account for the expenditure in its financial statements.

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Broker is involved in developing new products and has spent 15 millions on acquiring a patent for th...