Video: Research and Development Costs Overview and Objectives

In this lesson, Nick Palazzolo, CPA, delves into the intricacies of accounting for research and development (R&D) costs, setting the stage for understanding their connection to software costs. He emphasizes the significance of discerning between the capitalization and expensing of these costs, as well as the components that make them up. Nick walks through the key learning objectives, including identifying R&D costs and accurately reporting them as an expense in financial statements, in line with AICPA guidelines. His clear and confident approach reassures viewers that grasping these objectives is well within their reach.