There was a good article in the Courier Mail* some time ago, when the IFRS for Revenue Recognition had just come out, and the article intimated that .....
a) Revenue now could not be recognised in the P&L up front, but had to be recognised piecemeal.
b) R&D did not have to be expensed in the P&L, it could be capitalised in the BS, and depreciated over it's life.
c) TNE was very prudent (too prudent) by expensing R&D, when it did not have too.
The article intimated that changing TNE's R&D policy (as allowed by IFRS) would offset any change forced upon it regarding Revenue Recognition. The net effect of doing both with regards to Net Profit was therefore minimal.
* Courier Mail is Brisbane's most popular newspaper, TNE is head quartered in Brisbane.
TNE to double in size in 5 years?, page-10
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