资本化的研发费用和盈余管理：来自意大利上市公司的证据外文翻译.docVIP

外文翻译 原文： Capitalization of RD Costs and Earnings Management: Evidence from Italian Listed Companies 1. INTRODUCTION In the current era of globalization, a highly relevant issue facing regulators, academics and practitioners is the determination of an appropriate accounting treatment for research and development (RD) costs. International Accounting Standards discuss accounting for RD costs in IAS No. 38 “Intangible Assets” (IASB, 2004). This standard states at paragraph 54 that no intangible asset arising from research (or from the research phase of an internal project) shall be recognized as an asset; and that research expenses shall be expensed in the income statement when they are incurred. Concerning development costs, IAS No. 38 states at paragraph 57 that an intangible asset arising from development (or from the development phase of an internal project) shall be recognised if, and only if, an entity can demonstrate all of the following: (a) the technical feasibility of completing the intangible asset so that it will be available for use or sale; (b) its intention to complete the intangible asset and use or sell it; (c) its ability to use or sell the intangible asset; (d) how the intangible asset will generate probable future economic benefits; (e) the availability of adequate technical, financial and other resources to complete the development and to use or sell the intangible asset; (f) its ability to measure reliably the expenditure attributable to the intangible asset during its development. Although IAS 38 allows companies to capitalize development costs, due to the inherent subjectivity of the validation process management can exercise discretion in deciding whether the conditions of IAS 38 have been satisfied. In essence, IAS 38 gives management considerable flexibility regarding the treatment of development costs. US GAAP takes a stricter approach to the issue, where SFAS No. 2: Accounting for Research and Development Costs (FASB, 1974) requires that all