I n t e r a c t I v e t e X t foundations in Accountancy/ acca financial accounting (ffa/FA) bpp learning Media is an acca approved Content Provider

intangible asset

 is an identifiable non-monetary asset without physical substance.'  

 'An 

asset

 is a resource: 

 

– 

controlled by the entity as a result of events in the past; and 

 

–

 

from which future economic benefits are expected to flow to the entity.' 

 

'

Research

 is original and planned investigation undertaken with the prospect of gaining new 

 

scientific or technical knowledge and understanding.' 

 

'

Development

 is the application of research findings or other knowledge to a plan or design for 

the production of new or substantially improved materials, devices, products, processes, systems 

or services prior to the commencement of commercial production or use.' 

 

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