victor medical solutions limited has a major scientific program underway financed through an issuance of common shares the program has an expected

Required:
1. Explain the required accounting treatment of costs in the R& D phases.
2. Why are assets not established for research and many development initiatives?
3. Do you agree with Victor Medical Solutions’ accounting policies for its scientific pro-grams? What will be the impact on its financial statements, and how would you expect investors to react to the company’s financial information?