kickit2me,
For disclosure purposes all operating income and expenses are required to be disclosed at actual cost. Any applicable rebates/tax offsets or non cash adjustments are to be reported as separate line items in the annual financial statements.
It is fairly common practice amongst ASX companies to report abnormal or extraordinary items net of tax in their annuals as the relevant details of each item is normally disclosed in the notes to the accounts, allowing users to conduct proper analysis of the accounting treatment adopted and to reconcile the FITB/Provision for Deferred Tax amounts carried in the accounts.
Figures reported in 4C follow a statutory minimum disclosures and can rarely provide the necessary detail to forecast R & D eligible expenses (including rent/wages/plant and equipment etc). Additionally, many items may be R &D but are capital costs for accounting purposes and therefore are totally unidentifyable in the quarterly reports.
Knowing the many deficiencies in interim reports, I tend not to try to drill down too far as they are designed to meet a different set of standards than the annual audited accounts.
I will absolutely dip my hat to you for being able to get reasonable close though on the limited info you had.
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