Following the clarification published in November by FCT, the Portugal2020 Operational Programs have released a technical guidance on the accounting policy applicable to scientific and technical equipment within R&D activities. These guidelines meet the questions raised by institutions, and are the result of FCT initiatives to promote a more appropriate context for accounting expenses with the amortization of this type of equipment.
To be competitive and innovative, research must be supported by state-of-the-art equipment, which is subject to marked technological obsolescence. With this in mind, SCTN entities may adopt different accounting methods:
i) adjust the depreciation rate of the equipment to its actual utility level, provided it is validated by the Chartered Accountant (ROC) or Certified Accountant (CC) and so recorded in the accounts;
ii) define the useful life of the equipment according to its expected use, provided that justified on a case-by-case basis by the entity's management body and so recorded in the accounts.
This understanding results from the analysis, carried out by the FCT and the Operational Programs, of the opinion of the Accounting Standards Committee, following doubts and requests raised by the scientific community.