Paragraph 23 Development costsI1
United Kingdom
(1)
Notwithstanding that amounts representing “development costs” may be included under Assets item A (intangible assets) in the balance sheet format, an amount may only be included in a society’s balance sheet in respect of development costs in special circumstances.
(2)
If any amount is included in a society’s balance sheet in respect of development costs the following information must be given in a note to the accounts:
(a)
the period over which the amount of those costs originally capitalised is being or is to be written off; and
(b)
the reasons for capitalising the development costs in question.
Annotations
Commencement
- I1
Sch. 6 para. 23 in force at 1.9.1994, see reg. 1