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JOURNAL OF ACCOUNTING AND FINANCE

R&D Uncertainty in Future Benefits


Author(s): Ozer Asdemir, Mohammed H. A. Mufti, Fareed O. Sheikh

Citation: Ozer Asdemir, Mohammed H. A. Mufti, Fareed O. Sheikh, (2012) "R&D Uncertainty in Future Benefits," Vol. 12, Iss. 3, pp. 148 - 161

Article Type: Research paper

Publisher: North American Business Press

Abstract:

This paper contributes to the current debate on accounting treatment of R&D expenditures. We considered two different measures of future benefits to a firm, sales revenue and operating cash flows. We provide evidence that R&D expenditures do not generate more uncertain future sales revenue or operating cash flows compared to capital expenditures. In terms of sales revenue, R&D expenditures generate significantly less uncertain future benefits compared to capital expenditures. And in terms of operating cash flows, our results do not provide conclusive evidence that whether R&D expenditures generate more uncertain future benefits than capital expenditures or not.