This course provides an overview of the accounting and reporting requirements for research and development (R&D) costs. It discusses research and development costs performed internally by an entity and arrangements entered into with other parties to perform those activities. It also addresses financial statement disclosure requirements. Upon completing this course, you will be able to: Identify the key considerations with respect to internal audit’s involvement in an organization’s ERM; Identify the proper accounting treatment for research and development costs; Differentiate between those activities that are and are not considered research and development; Recognize the accounting considerations for research and development arrangements; Recognize the accounting requirements for in process research and development acquired in a business combination