| 2.34 | Research and development costs |
Research and development costs comprise all costs that are directly attributable to research and development activities or that can be allocated on a reasonable basis to such activities. Research and development costs are recognized as intangible assets when the following criteria are met:
| • | it is technically feasible to complete the research and development project so that it will be available for use or sale; |
| • | management intends to complete the research and development project, and use or sell it; |
| • | it can be demonstrated how the research and development project will generate economic benefits; |
| • | there are adequate technical, financial and other resources to complete the development and the ability to use or sell the research and development project; and |
| • | the expenditure attributable to the research and development project during its development phase can be reliably measured. |
Other research and development expenditure that do not meet these criteria are recognized as an expense as incurred. Research and development costs previously recognized as an expense are not recognized as an asset in a subsequent period.