History of Rollerblades and Inventors Who Invented Rollerblades

Believe it or not, the idea for roller blades came before roller skates. In-line skates were created in the early 1700s when a Dutchman attached wooden spools to strips of wood and nailed them to his shoes. In 1863, an American developed the conventional rollerskate model, with the wheels positioned side by side, and it became the skate of choice. Scott and Brennan Olsen Invent Rollerblades In 1980, Scott and Brennan Olsen, two Minnesota brothers,  discovered an older in-line skate in a sporting goods store and thought the design would be perfect for off-season hockey training. They improved the skate on their own and soon were manufacturing the first Rollerblade in-line skates in their parents’ basement. Hockey players and alpine and Nordic skiers quickly caught on and were seen cruising the streets of Minnesota during the summer on their Rollerblade skates. Rollerblade Becomes a Generic Name Over time, strategic marketing efforts thrust the brand name  into public awareness. Skating enthusiasts began using Rollerblade as a generic term for all in-line skates, putting the trademark in jeopardy. Today 60 in-line skate manufacturers exist, but Rollerblade is credited with introducing the first polyurethane boot and wheels, the first heel brakes  and the development of Active Brake Technology (ABT), which makes stopping easier to learn and to control. Rollerblade has approximately 200 patents and 116 registered trademarks. Timeline of Rollerblades 1983 - Scott Olson founded Rollerblade, Inc. and the term rollerblading meant the sport of in-line skating because Rollerblade, Inc. was the only manufacturer of in-line skates for a long time. Still, the first mass-produced rollerblades, while innovative, had some design flaws. They were difficult to put on, adjust and prone to collecting dirt and moisture in the ball-bearings. The wheels were also easily damaged and the brakes came from the old roller skate toe-brake and were not very effective. The Olson brothers  eventually sold Rollerblade, Inc. and the new owners had the funds to really improve the design. The first massively successful Rollerblade skate was the Lightning TRS. In this pair of skates, the flaws had vanished, fiberglass was used to produce the frames, the wheels were better protected, the skates were easier to put on and adjust and stronger brakes were placed at the rear. With the success of the Lightning TRS, other in-line skate companies appeared, such as Ult ra Wheels, Oxygen, K2, and others.1989 - Rollerblade, Inc. produced the Macro and Aeroblades models, the first skates fastened with three buckles instead of long laces that needed threading.1990 - Rollerblade, Inc. switched to a glass-reinforced thermoplastic resin (durethane polyamide) for their skates, replacing the polyurethane compounds  used previously. This decreased the average weight of skates by nearly 50 percent.1993 - Rollerblade, Inc. developed ABT or Active Brake Technology. A fiberglass post, attached at one end to the top of the boot and at the other end to a rubber-brake, hinged the chassis at the back wheel. The skater had to straighten one leg to stop, driving the post into the brake, which then hit the ground. Before ABT, skaters had been tilting their foot back to make contact with the ground. The new brake design increased safety.

The Great Gatsby by F. Scott Fitzgerald - 1592 Words

The classic novel The Great Gatsby, by F. Scott Fitzgerald gained much fame and phenomenon which caused screenwriters to adapt it to a screenplay. With much success the screenplay was recreated twice. Despite having a similar story line, each movie had its own particular aspects, as both directors tried to capture their ideas and convey their thoughts in a variety of ways. While most people preferred screenwriter Francis Ford Coppola’s 1974, version as a more accurate description of the novel; it’s important to take into account how accurate the roles of the characters are portrayed. Baz Luhrmann’s version of The Great Gatsby clearly and distinctively conveyed the characters true self. The 2013, adaptation of The Great Gatsby screenplay written by Baz Luhrmann most accurately depicts the roles of the main characters as described in Fitzgerald’s novel. In Luhrmann’s 2013 film, Gatsby’s true identity was revealed within his smile. At the beginning of the novel, Gatsby was known as being the mysterious man who throws lavish and wild parties. Although his entertaining includes vast amounts of guest, none of these relations were personal enough to know his personality. These false relationships caused his guests to make assumptions and spread rumors about his life and how he attained his money. Not until the evening of one of Gatsby’s numerous parties was his true personality shown. As things wound down, Nick and Jordan accompanied a man and â€Å"a rowdy little girl† at a tableShow MoreRelatedThe Great Gatsby by F. Scott Fitzgerald1393 Words   |  6 PagesF. Scott Fitzgerald was the model of the American image in the nineteen twenties. He had wealth, fame, a beautiful wife, and an adorable daughter; all seemed perfect. Beneath the gilded faà §ade, however, was an author who struggled with domestic and p hysical difficulties that plagued his personal life and career throughout its short span. This author helped to launch the theme that is so prevalent in his work; the human instinct to yearn for more, into the forefront of American literature, where itRead MoreThe Great Gatsby By F. Scott Fitzgerald1343 Words   |  6 PagesHonors English 10 Shugart 18 Decemeber 2014 The Great Gatsby F. Scott Fitzgerald s 1925 novel The Great Gatsby is a tragic love story, a mystery, and a social commentary on American life. The Great Gatsby is about the lives of four wealthy characters observed by the narrator, Nick Carroway. Throughout the novel a mysterious man named Jay Gatsby throws immaculate parties every Saturday night in hope to impress his lost lover, Daisy Buchanan. Gatsby lives in a mansion on West Egg across from DaisyRead MoreThe Great Gatsby By F. Scott Fitzgerald1155 Words   |  5 PagesThe Great Gatsby The Jazz Age was an era where everything and anything seemed possible. It started with the beginning of a new age with America coming out of World War I as the most powerful nation in the world (Novel reflections on, 2007). As a result, the nation soon faced a culture-shock of material prosperity during the 1920’s. Also known as the â€Å"roaring twenties†, it was a time where life consisted of prodigality and extravagant parties. Writing based on his personal experiences, author F. ScottRead MoreThe Great Gatsby By F. Scott Fitzgerald1166 Words   |  5 Pagesin the Haze F. Scott Fitzgerald lived in a time that was characterized by an unbelievable lack of substance. After the tragedy and horrors of WWI, people were focused on anything that they could that would distract from the emptiness that had swallowed them. Tangible greed tied with extreme materialism left many, by the end of this time period, disenchanted. The usage of the literary theories of both Biographical and Historical lenses provide a unique interpretation of the Great Gatsby centered aroundRead MoreThe Great Gatsby by F. Scott Fitzgerald845 Words   |  3 PagesIn F. Scott Fitzgerald’s novel, The Great Gatsby, colors represent a variety of symbols that relate back to the American Dream. The dream of being pure, innocent and perfect is frequently associated with the reality of corruption, violence, and affairs. Gatsby’s desire for achieving the American Dream is sought for through corruption (Schneider). The American Dream in the 1920s was perceived as a desire of w ealth and social standings. Social class is represented through the East Egg, the WestRead MoreThe Great Gatsby By F. Scott Fitzgerald Essay970 Words   |  4 Pagesrespecting and valuing Fitzgerald work in the twenty-first century? Fitzgerald had a hard time to profiting from his writing, but he was not successful after his first novel. There are three major point of this essay are: the background history of Fitzgerald life, the comparisons between Fitzgerald and the Gatsby from his number one book in America The Great Gatsby, and the Fitzgerald got influences of behind the writing and being a writer. From childhood to adulthood, Fitzgerald faced many good andRead MoreThe Great Gatsby By F. Scott Fitzgerald2099 Words   |  9 Pagesauthor to mirror his life in his book. In his previous novels F. Scott Fitzgerald drew from his life experiences. He said that his next novel, The Great Gatsby, would be different. He said, â€Å"In my new novel I’m thrown directly on purely creative work† (F. Scott Fitzgerald). He did not realize or did not want it to appear that he was taking his own story and intertwining it within his new novel. In The Great Gatsby, by F. Scott Fitzgerald, he imitates his lifestyle through the Buchanan family to demonstrateRead MoreThe Great Gatsby By F. Scott Fitzgerald1607 Words   |  7 Pages The Great Gatsby is an American novel written in 1925 by F. Scott Fitzgerald. One of the themes of the book is the American Dream. The American Dream is an idea in which Americans believe through hard work they can achieve success and prosperity in the free world. In F. Scott Fitzgerald s novel, The Great Gatsby, the American Dream leads to popularity, extreme jealousy and false happiness. Jay Gatsby’s recent fortune and wealthiness helped him earn a high social position and become one of the mostRead MoreThe Great Gatsby By F. Scott Fitzgerald1592 Words   |  7 PagesMcGowan English 11A, Period 4 9 January 2014 The Great Gatsby Individuals who approach life with an optimistic mindset generally have their goals established as their main priority. Driven by ambition, they are determined to fulfill their desires; without reluctance. These strong-minded individuals refuse to be influenced by negative reinforcements, and rely on hope in order to achieve their dreams. As a man of persistence, the wealthy Jay Gatsby continuously strives to reclaim the love of hisRead MoreThe Great Gatsby By F. Scott Fitzgerald1646 Words   |  7 PagesThe 1920s witnessed the death of the American Dream, a message immortalized in F. Scott Fitzgerald’s The Great Gatsby. Initially, the American Dream represented the outcome of American ideals, that everyone has the freedom and opportunity to achieve their dreams provided they perform honest hard work. During the 1920s, the United States experienced massive economic prosperity making the American Dream seem alive and strong. However, in Fitzgerald’s eyes, the new Am erican culture build around that The Great Gatsby By F. Scott Fitzgerald - 1592 Words Karen Morgan Ms. McGowan English 11A, Period 4 9 January 2014 The Great Gatsby Individuals who approach life with an optimistic mindset generally have their goals established as their main priority. Driven by ambition, they are determined to fulfill their desires; without reluctance. These strong-minded individuals refuse to be influenced by negative reinforcements, and rely on hope in order to achieve their dreams. As a man of persistence, the wealthy Jay Gatsby continuously strives to reclaim the love of his life, Daisy Buchanan. Throughout the novel The Great Gatsby, Jay makes a substantial amount of effort to impress, and persuade Daisy to be reacquainted once again. Providing that, F. Scott Fitzgerald associates Daisy as Gatsby’s green light. Fitzgerald represents the green light in Gatsby’s life as a significant role to The Great Gatsby. In the novel The Great Gatsby, Jay Gatsby’s green light symbolizes his undying passion for an idealistic goal that he aspires to accomplish; his green light indicates how he uses his wealth in order to acquire his desire, it also represents his American Dream. Even after five years without Daisy beside him, Jay Gatsby is still willing to pursue his green light; in spite of his love for her. Time and time again, Gatsby repeatedly insists that he will recreate the past with Daisy and always states he will, †Gatsby believed in the green light, the orgastic future that year by year recedes before us† (Fitzgerald 189). Until theShow MoreRelatedThe Great Gatsby by F. Scott Fitzgerald1393 Words   |  6 PagesF. Scott Fitzgerald was the model of the American image in the nineteen twenties. He had wealth, fame, a beautiful wife, and an adorable daughter; all seemed perfect. Beneath the gilded faà §ade, however, was an author who struggled with domestic and physical difficulties that plagued his personal life and career throughout its short span. This author helped to launch the theme that is so prevalent in his work; the human instinct to yearn for more, i nto the forefront of American literature, where itRead MoreThe Great Gatsby By F. Scott Fitzgerald1343 Words   |  6 PagesHonors English 10 Shugart 18 Decemeber 2014 The Great Gatsby F. Scott Fitzgerald s 1925 novel The Great Gatsby is a tragic love story, a mystery, and a social commentary on American life. The Great Gatsby is about the lives of four wealthy characters observed by the narrator, Nick Carroway. Throughout the novel a mysterious man named Jay Gatsby throws immaculate parties every Saturday night in hope to impress his lost lover, Daisy Buchanan. Gatsby lives in a mansion on West Egg across from DaisyRead MoreThe Great Gatsby By F. Scott Fitzgerald1155 Words   |  5 PagesThe Great Gatsby The Jazz Age was an era where everything and anything seemed possible. It started with the beginning of a new age with America coming out of World War I as the most powerful nation in the world (Novel reflections on, 2007). As a result, the nation soon faced a culture-shock of material prosperity during the 1920’s. Also known as the â€Å"roaring twenties†, it was a time where life consisted of prodigality and extravagant parties. Writing based on his personal experiences, author F. ScottRead MoreThe Great Gatsby By F. Scott Fitzgerald1166 Words   |  5 Pagesin the Haze F. Scott Fitzgerald lived in a time that was characterized by an unbelievable lack of substance. After the tragedy and horrors of WWI, people were focused on anything that they could that would distract from the emptiness that had swallowed them. Tangible greed tied with extreme materialism left many, by the end of this time period, disenchanted. The usage of the literary theories of both Biographical and Historical lenses provide a unique interpretation of the Great Gatsby centered aroundRead MoreThe Great Gatsby by F. Scott Fitzgerald845 Words   |  3 PagesIn F. Scott Fitzgerald’s novel, The Great Gatsby, colors represent a variety of symbols that relate back to the American Dream. The dream of being pure, innocent and perfect is frequently associated with the reality of corruption, violence, and affairs. Gatsby’s desire for achieving the American Dream is sought for through corruption (Schneider). The American Dream in the 1920s was perceived as a desire of w ealth and social standings. Social class is represented through the East Egg, the WestRead MoreThe Great Gatsby By F. Scott Fitzgerald Essay970 Words   |  4 Pagesrespecting and valuing Fitzgerald work in the twenty-first century? Fitzgerald had a hard time to profiting from his writing, but he was not successful after his first novel. There are three major point of this essay are: the background history of Fitzgerald life, the comparisons between Fitzgerald and the Gatsby from his number one book in America The Great Gatsby, and the Fitzgerald got influences of behind the writing and being a writer. From childhood to adulthood, Fitzgerald faced many good andRead MoreThe Great Gatsby By F. Scott Fitzgerald2099 Words   |  9 Pagesauthor to mirror his life in his book. In his previous novels F. Scott Fitzgerald drew from his life experiences. He said that his next novel, The Great Gatsby, would be different. He said, â€Å"In my new novel I’m thrown directly on purely creative work† (F. Scott Fitzgerald). He did not realize or did not want it to appear that he was taking his own story and intertwining it within his new novel. In The Great Gatsby, by F. Scott Fitzgerald, he imitates his lifestyle through the Buchanan family to demonstrateRead MoreThe Great Gatsby By F. Scott Fitzgerald1607 Words   |  7 Pages The Great Gatsby is an American novel written in 1925 by F. Scott Fitzgerald. One of the themes of the book is the American Dream. The American Dream is an idea in which Americans believe through hard work they can achieve success and prosperity in the free world. In F. Scott Fitzgerald s novel, The Great Gatsby, the American Dream leads to popularity, extreme jealousy and false happiness. Jay Gatsby’s recent fortune and wealthiness helped him earn a high social position and become one of the mostRead MoreThe Great Gatsby By F. Scott Fitzgerald1646 Words   |  7 PagesThe 1920s witnessed the death of the American Dream, a m essage immortalized in F. Scott Fitzgerald’s The Great Gatsby. Initially, the American Dream represented the outcome of American ideals, that everyone has the freedom and opportunity to achieve their dreams provided they perform honest hard work. During the 1920s, the United States experienced massive economic prosperity making the American Dream seem alive and strong. However, in Fitzgerald’s eyes, the new American culture build around thatRead MoreThe Great Gatsby By F. Scott Fitzgerald992 Words   |  4 PagesThe Jazz Age was a period of great economic, social, and political change happening in the 1920’s. The Great Gatsby by F. Scott Fitzgerald, however, sees in this a time of boundaryless death, and urban decimation. The Great Gatsby is modeled towards the death of the American dream during the 1920’s. Based on the happening of the 1920’s, this model is certainly reasonable. F. Scott Fitzgerald and The Great Gatsby use the motifs of materiali sm, carelessness, and decay seen in the 1920’s in order to

Uniform of German SS Soldiers Free Essays

Baggy, and they had high goth like boots except withut the buckles, andthere top had a swastika on one of the sleeves. The German uniforms varied in color and style. By Also on the tunic was Edelweiss Pirates an Iron Eagle Just above the left breast pocket. We will write a custom essay sample on Uniform of German SS Soldiers or any similar topic only for you Order Now hey would gather together and act in a manner that they would know would anger the local Nazi leaders. Whereas the Nazi Party required Hitler Youth members to wear a uniform that was semi-military, Edelweiss members wore more bohemian lothing, knowing that it would anger the powers-that-be. They also sang songs that the Nazis had banned and played music that was also banned, such as Jazz and blues tunes. They created areas within a town or city where members of the Hitler Youth were not tolerated. At no stage were they ever a danger to the Nazi regime and for years they were seen as nothing more than a youthful irritant – youths going through that phase in their lives where rebellion (as they perceived it) was the order of the day. ey also offered a way of life outside of the strangulating Nazi regime. Between 1936 and September 1939, the Nazi authorities saw the Edelweiss Pirates as little more than a small-scale irritant. However, attitudes changed during World War Two when the authorities believed that the Edelweiss Pirates were responsible for collecting British anti-Nazi propaganda leaflets dropped by Bomber Command at the start of the war and posting them through letterboxes. This was seen as being more than Just an irritation; it was classed as blatant subversion. How to cite Uniform of German SS Soldiers, Papers

Accounting for Research and Development Deals Activities

Question: Discuss about the Accounting for Research and Development Deals Activities. Answer: Introduction: The accounting for research and development deals with activities that improves the processes and product. The terms of research and development is used in the standard with the following meaning. Research is the planned and the original investigation, which is undertaken by the entity to gain technical and scientific knowledge and understanding. On the other hand, development is the application of the knowledge gained or using the finding from the research for producing improved or new product, processes, services and material. The development is undertaken prior to the commencement of the usage and commercial production. The activities encompassed in the research and development is difficult to identify (Barge-Gil Lpez, 2014). The definition provided assist the reporting entities in classifying their activities under the research and development. The distinction of the activities are based on the organization types, types of the project undertaken and the types of business. The medium sized firm had confusion about the formal definition of Research and development while the small firms understood the concept of R D in an informal way. The FRS 13 deals with the accounting for the activities related to the research and development. The activities related to research and development are distinguished from those activities that are non-research based because of the absence and presence of appreciable elements of innovation (Bebbington et al., 2014). Discussion: The core accounting rule in the area of research and development are the expenditures that is to be charged as an expense when incurred. The expenditure, which is incurred on research, is not directly related to the future economic benefits and capitalizing the cost that does not comply with the accrual concept. The expenditure related to the research, development is written off to the account of profit and loss, and this is because the expenditure on the research does not provide the entity with the direct future economic benefits. The expenditure on the development cost has to be written off as the expense incurred to the profit and loss account. However, there is the option of deferring the expenditure incurred in development and it can be carried out as the intangible assets on the entity meeting some criteria. The research and the development costs are need to be separated in order to achieve the reasonable degree of comparability between the accounting period of the same entity and between the entities (Bowen et al., 2013). Literature review on accounting for research and development: For sustaining the dynamic economy of New Zealand, the research and development is an important concept. The socio economic issues of New Zealand is addressed sing the accounting for R D. The literature review is provided on the expenses relating to R D. The harmonization in the accounting treatment of the research and development is unlikely to happen. The capitalization of R D has always remain a controversial issue. The revised International accounting standard 38 make the distinction between the development and the research phase. The expenditure of carrying out research should be treated as an expense (Deegan, 2013). A reporting entity cannot demonstrate during the research phase of the project that whether the intangible assets are capable of generating the probable future economic benefits or not. The expenditure on research should be recognize as expense and there is the need to recognize the assets arising from the research. The intangible assets needs to be recognized in the development phase if the entity is able to demonstrate the ability to sell or use the assets. The entity also needs to demonstrate the whether the intangible assets are technical feasible for using or selling purpose. The ability to measure the expenditure related to the development to of the intangible assets should also needs to be demonstrated. The treatment of research and accounting provides for the flexibility between the choice of capitalizing and expensing. As a result of which, the companies that are more leveraged are encouraged to activate their cost related to R D rather than expensing them. The managers are motivated to prevail such accounting decisions over the other. It is argued that the high debt level forces the company to capitalize on the expenditure of R D. The choice available to the company because of this decreases the debt ratio and increases the accounting profit. The firms are encouraged to make the accounting decisions that are income increasing (Daske et al., 2013). Implication of the present accounting profession and the commercial environment: The accounting for research and development has the implication on commercial environment in terms of the accountability initiatives. The development and the research makes the strategic focus rather than the university accounting and the professional curricula. The developments provide the platform for the wider interest of public and this improves the relevance of the information to enhance the process of decision-making. The various business leaders and the accounting profession has embraced different types of corporate reporting. This is known as the integrated reporting. The research and development would enrich the appreciation and understanding of the accounting academics of New Zealand for the achievements and efforts of the early builder sin the accounting field (Dinh et al., 2015). Past debate in relation to the issue: The basic issue concerning the accounting for research and development is the expenditure. The expenditure associated with the research and development is that there is no certainty in the future benefits and it makes it difficult to treat and record the expenditure as an asset. Because of this, the GAAP has made it mandatory to charge the expenditure as an expense incurred. However, this cannot be regarded as entirely pervasive as there are some limitations to it (Mynatt Schroeder, 2012). The current tax treatment about research and development is uncertain. The measures of taxation does not have anything to address the uncertainty. The uncertainty over the treatment of taxation of research and development is not addressed sing the current measures. The main area of concern is the revenue and capital R D expenditure. The ambiguity in the treatment of taxes comes from whether the cost are classified as capital or revenue. If the taxpayer has enduring benefit, then the cost is classified as expenditure and otherwise it is classified as the revenue expenditures. It is not clear in the tax law of New Zealand when the expenditure related to the R D is immediately deductible and when the expenditures are not immediately deductible. This comes with the risk of disputes that are potential in nature. This risk of disputes exist with the Inland Revenue. When the taxes are underpaid, this comes with the risk of use of money interest and penalties (Healy Palepu, 2012). The method of accrual accounting in New Zealand is faced with a number of issues. The reporting entity encounters with a number of issues when they intend to correctly identify the cost related to the research and development. The accounting treatment of the cost for the purpose of tax is also the major issue faced by the reporting entity. The financial reporting standard relies on the accounting treatment for the amortization of the development expenditure at the end of the process of research and development. Recent development: The development of the New Zealand equivalent to the IFRS for the purpose of application by the entities of New Zealand. This would also include references to the regulatory environment. The harmonization of the financial reporting standard by liaising with the Australian accounting standard Board. There are also new development in the business environment (www.ifrs.org, 2016). The tax rule concerning the research and development is about the cashing out off the losses from taxes. The companies building the service or product would make the expense until the development of the product and it will make losses until the revenue is being generated. The losses attributable to the development would be carried forward to the next year when the company starts making profit by selling the developed products. The changes allows the tax loss due to research and development to cash out their loss, which arises from the expenditure of the research, and development. The new development focuses on the newly started companies who are engaged in the intensive research and development. This is intended to reduce the exposure of the startups to the market failure and the distortion in the taxes, which arises for the treatment of the losses attributing from taxes in the current scenario (Kelsey, 2015). Expenditure accruing to certain types of expenditures are not included in the measurement and the cost that are claimed by the company must be related to the research and development. The cost might include office cost relating to R D, wages, salaries and the contractors cost. It also include the depreciation of the assets that are solely used for the purpose of research and development. The newly developed regime allows cash out losses. However, there are some limits imposed by the regime. The cost related to the research and development shall comprise of all the activities that are directly attributable to the activities undertaken under the research and development. The cost needs to be allocated to such activities on a reasonable basis. The research and development costs between the entities should be separated to make a reasonable degree of comparability. The distinction should be made between the development cost and research cost. The proposal is to address the uncertainty by clarifying the revenue or capital boundary. This is done by allowing the taxpayers to follow such accounting treatment where the expenditure related to the R D is immediately written off for accounting. This will immediately deducted for the taxation purpose. Any types of expenses incurred in undertaking and carrying out the research are deductible immediately for the taxation purpose. There are some criteria for the treatment of the expenditure on development and this decides whether it will be immediately deductible or not. This will provide the payers of taxes with more certainty and the result would be the fewer disputed between the Inland Revenue and the taxpayers. This will help the businesses to focus less on the tax affairs and enable them to concentrate on their businesses (Knechel et al., 2012). Future development: The adoption of International reporting standard in New Zealand has reassessed the role of financial reporting standard board (FRSB). The FRSB needs to add material, which would describe the applicability and the scope of the standard in New Zealand. Some of the arguments can be made about the future developments. Due to the cost incurred in the research and development, the economic benefits are expected to flow to the entity; therefore, it can be argued that rather than treating the cost as an expense, it should be treated as assets. This is so because it is align with the assets definition prescribed by the International accounting standard framework for the preparation and the presentation of the financial statements and with the statements of principles. There is a need to provide accountants in New Zealand with more information so that the situation is clarified. The development and the adoption to the international reporting standard will make possible the comparability and th e universality of the accounting treatment of the research and development internationally and regionally (Samkin Deegan, 2012). Regulatory environment: The accounting standard board of New Zealand issues the accounting standard in New Zealand. The profit entities reports under the International financial reporting standard (IFRS) of New Zealand. These are the standards developed by the accounting standard board of New Zealand. The External reporting board does the approval of these standards. The entities are adapting their financial function as per the standard to achieve the efficiency for long term and met the requirement of the standards. The entities, which are currently reporting under the old GAAP, will need to be adapt to the New Zealand International financial reporting standard. However, the International financial reporting standard of New Zealand and International financial reporting standard are different (Naranjo et al., 2015). The former also deals with the domestic standards and this deal with the areas that are not dealt under the IFRS. The transitional requirements of both the standard are different (Nobes 2014).The framework of accounting standard at the current scenario is implemented in three stages. In the first stage, the entities which mainly involves changes to the profit entities accounting standard. The second stage involves changes for public entities. Thirdly, the changes to the accounting standard of the profit and public entities. The companies that is the reporting entities are significantly affected by the accounting of the research and development. However, it is more confined to the entities engaged in the research and development. Conclusions: The purpose of the report is to provide the insight into the accounting for the research and development in New Zealand. There are some gaps as per the literature review. The analysis presented in the reports suggest that the financial reporting regime of the international accounting standard is viable and is an alternative to the existing financial regime of New Zealand. Adopting to the International Financial reporting standards would provide the country with the long-term net benefits. The country should adopt to the IFRS in a manner, which would preserve their commitment to such financial reporting standard, which is sector neutral for New Zealand. New Zealand should look forward to ensure the high standing in the long term and should not be complacent. The country can be an important contributor in the development of the internationally accepted financial reporting in the accounting of research and development. Reference: Barge-Gil, A., Lpez, A. (2014). RD determinants: Accounting for the differences between research and development.research Policy,43(9), 1634-1648. Bebbington, J., Unerman, J., O'Dwyer, B. (2014).Sustainability accounting and accountability. Routledge. Bowen, R. M., Jollineau, J., Margheim, L. (2013). Corporation's Intellectual Property: Accounting For Research And Development Under US GAAP Versus IFRS.Journal of Business Case Studies (Online),9(4), 321. Daske, H., Hail, L., Leuz, C., Verdi, R. (2013). Adopting a label: Heterogeneity in the economic consequences around IAS/IFRS adoptions.Journal of Accounting Research,51(3), 495-547. Deegan, C. (2013).Financial accounting theory. McGraw-Hill Education New Zealand. Dinh, T., Eierle, B., Schultze, W., Steeger, L. (2015). Research and development, uncertainty, and analysts forecasts: the case of IAS 38.Journal of International Financial Management Accounting,26(3), 257-293. Dinh, T., Kang, H., Schultze, W. (2015). Capitalizing Research Development: Signaling or Earnings Management?.European Accounting Review, 1-29. Healy, P. M., Palepu, K. G. (2012).Business Analysis Valuation: Using Financial Statements. Cengage Learning. IFRS - Home. (2016).Ifrs.org. Retrieved 6 November 2016, from https://www.ifrs.org/Pages/default.aspx International Accounting Standards Board (IASB). (2016).Iasplus.com. Retrieved 6 November 2016, from https://www.iasplus.com/en/resources/ifrsf/iasb-ifrs-ic/iasb Kelsey, J. (2015).The New Zealand experiment: A world model for structural adjustment?. Bridget Williams Books. Knechel, W. R., Sharma, D. S., Sharma, V. D. (2012). Non?audit services and knowledge spillovers: Evidence from New Zealand.Journal of Business Finance Accounting,39(1?2), 60-81. Mynatt, P. G., Schroeder, R. G. (2012). The comparative reporting impact of the FASB and IASB treatments of research and development expenditures.Journal of Business and Accounting,5(1), 50. Naranjo, P. L., Saavedra, D., Verdi, R. S. (2015). Financial reporting regulation and financing decisions.Available at SSRN 2147838. Nobes, C., (2014).International Classification of Financial Reporting 3e. Routledge. Reeve, J. M., Warren, C. S., Duchac, J. E., Du, X., Yu, Z. (2012).Principles of Accounting. South-Western Cengage Learning. Samkin, G., Deegan, C. (2012).New Zealand financial accounting. McGraw-Hill Education Australia.