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How can be right when all the research costs are design

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Reference no: EM132918513

You are the accountant of ABC Ltd, a listed Australian entity which prepares consolidated financial statements in accordance with Australian Accounting Standard Board (AASB). You have recently prepared draft of the financial statements for the year ended 30 June 2021 and these are due to be published shortly. The chief executive officer (CEO), who is not an accountant, reviewed these financial statements and has a query arising out of the review.

Problem 1: How can this be right when all these research and development costs are design costs?

Reference no: EM132918513

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