The United States faces a new challengeâ€"maintaining the vitality of its system for supporting science and technology despite fiscal stringency during the next several years. To address this change, the Senate Appropriations Committee requested a report from the National Academies of Sciences and Engineering and the Institute of Medicine to address "the criteria that should be used in judging the appropriate allocation of funds to research and development activities; to examine the appropriate balance among different types of institutions that conduct such research; and to look at the means of assuring continued objectivity in the allocation process." In this eagerly-awaited book, a committee of experts selected by the National Academies and the Institute responds with 13 recommendations that propose a new budgeting process and formulates a series of questions to address during that process. The committee also makes corollary recommendations about merit review, government oversight, linking research and development to government missions, the synergy between research and education, and other topics. The recommendations are aimed at rooting out obsolete and inadequate activities to free resources from good programs for even better ones, in the belief that "science and technology will be at least as important in the future as they have been in the past in dealing with problems that confront the nation." The authoring committee of this book was chaired by Frank Press, former President of the National Academy of Sciences (1981-1993) and Presidential Science and Technology Advisor (1977-1981).

Since 1992 the Department of Defense (DOD), through the U.S. Army Medical Research and Material Command, has received congressionally earmarked appropriations for programs of biomedical research on prostate, breast, and ovarian cancer; neurofibromatosis; tuberous sclerosis; and other health problems. Appropriations for these Congressionally Directed Medical Research Programs are used to support peer reviewed extramural research project, training, and infrastructure grants. Congress has become concerned about funding increases for these programs given current demands on the military budget. At the request of Congress, the Institute of Medicine (IOM) examined possibilities of augmenting program funding from alternative sources. The resulting IOM book, Strategies to Leverage Research Funding: Guiding DOD's Peer Reviewed Medical Research Programs, focuses on nonfederal and private sector contributions that could extend the appropriated funds without biasing the peer review project selection process.

How does government funding of corporate R&D affect the behaviour of firms? Ongoing efforts to boost business investment in R&D demand better methods of evaluating the effectiveness of government policy instruments. Efforts to explicitly measure ...

This new guide provides guidance and illustrations regarding the initial and subsequent accounting for, valuation of, and disclosures related to acquired intangible assets used in research and development activities (IPR&D assets). This is a valuable resource for preparers of financial statements, auditors, accountants and valuation specialists seeking an advanced understanding of the accounting, valuation, and disclosures related to acquired IPR&D assets.