Define: Research And Development

UK Accounting Glossary

Definition: Research And Development



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Full Definition of Research And Development


Research and development is a phrase used to describe the activities associated with the creation or discovery of new processes, methods, products and/or services and using the newly discovered knowledge to fulfil a market need or demand. Techniques that involve science, technology and mathematics are used in research and development. Businesses, educational facilities and government agencies usually establish specialized research and development centres or departments. Organizations often devote a specific percentage of their annual budgets to research and development. The allocation of research and development funds varies from business to business and from industry to industry. There are two primary types of research and development: basic and applied. Basic research and development does not involve a specified commercial or profit-oriented objective, while applied research and development does. Research and development is also known as R and D or R&D.


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https://payrollheaven.com/define/research-and-development/
Modern Language Association (MLA):
Research And Development. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. March 31, 2020 https://payrollheaven.com/define/research-and-development/.
Chicago Manual of Style (CMS):
Research And Development. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/research-and-development/ (accessed: March 31, 2020).
American Psychological Association (APA):
Research And Development. PayrollHeaven.com. Retrieved March 31, 2020, from PayrollHeaven.com website: https://payrollheaven.com/define/research-and-development/

Definition Sources


Definitions for Research And Development are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 6th February 2020.