# ASC 730-20-10: Research and Development — Research and Development Arrangements — 10 Objectives

Source: FASB Accounting Standards Codification, Basic View

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## ASC 730-20-10: 10 Objectives

[Read section](https://asc.understandingaccounting.org/asc/730/20/#10-objectives)

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##### [730-20-10-1](https://asc.understandingaccounting.org/asc/730/20/#730-20-10-1)

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The objective of this Subtopic is to provide guidance related to [research and development](https://asc.understandingaccounting.org/glossary/r/#research-and-development "Research is planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service (referred to as product) or a new process or technique (referred to as process) or in bringing about a significant improvement to an existing product or process. Development is the translation of research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process whether intended for sale or use. It includes the conceptual formulation, design, and testing of product alternatives, construction of prototypes, and operation of pilot plants.") arrangements.