Research and development
Research and development (alternatively known as R&D) is generating and experimenting with ideas related to new products, services, or processes.
Definitions
According to Cost Accounting by Horngren, Datar, Rajan (14th edition),
- Research and development. Generating and experimenting with ideas related to new products, services, or processes.
According to Managerial Accounting by Braun, Tietz (5th edition),
- Research and development (R&D). Researching and developing new or improved products or services or the processes for producing them.
According to the Strategic Management by David and David (15th edition),
- Research and development. Monies spent by firms to enhance existing products/services and/or create new and improved ones.
