I was wondering if anybody had experience of capitalising internally generated intangible assets (e.g. websites, apps etc.) when the team developing the asset is using an agile product development methodology rather than traditional waterfall method. By this I mean that the people working on the 'product' may be working on multiple projects each month and also there isn't a traditional straight line product lifecycle development process of Initiation-Research-Design-Development-Testing-Implementation, these often happen concurrently based on releases/app updates etc. rather than one after another. The key challenges I see are:
(1) How people book there time to the various projects (based on actual time per project, which is very time consuming or apportioned between projects?)
(2) How you differentiate between initiation/Research stages (that would be deemed 'research' under accounting rules so revenue expenditure) and development/testing etc. (which could be deemed capital if all the criteria are met)?
Assume international accounting standards are applicable e.g. IAS 38 (the most applicable)
Thanks in advance.