Discuss the nature and value to society of the research being done by BSF

Required (HI6025 ) T2, 2016 Marks 1) Structure & References 20 2) Management Summary/Abstract/Introduction 20 3) Discuss the nature and value to society of the research being done by BSF Ltd. 20 4) Discuss the problems with the early the research done by BSF Ltd. 20 5) Define and discuss the nature of and differences between research and development (R&D). Also, discuss how research and development are accounted for, why the differences, and why firms engage in R&D. 30 6) What is the fair market value patent—give your assumptions and calculations. 30 7) Show the full set of journal entries for the R&D transactions from 2013 to 2016 (include the grant from CSIRO) and explain your decisions—especially how you treated the CSIRO grant. Remember to correctly allocate R&D costs between expenses and patent/capital. Explain how and why you valued the patent 30 8) BSF Ltd. management asserted in a prospectus that the patent values were predicated on BSF Ltd. having exclusive control over the bacteria-based feeds technology.1 How reasonable is that assertion—support your answer with references to current and recent (e.g. last decade or so) research