Accounting for Research and Development Costs (R&D)

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Universal CPA Review walks through the financial reporting requirements for research and development (R&D) costs incurred by a company per U.S. GAAP.

Research and development costs (R&D) are costs that are applied to the effort that a company makes when new information about an existing or future product or service has been obtained. Accounting for research and development costs will generally require an expense to be charged to R&D costs with the exception of:
• Research and development costs with an alternative future use and;
• Research and development costs that are of a contractual agreement

[rmakkkk]

Can research costs for materials that can potentially be used for production be recorded as an intangible asset? If not can you pls explain, thanks!