Putting IFRS in Motion: The Impact of International Financial Reporting Standards on the Canadian Pharmaceutical and Life Sciences Sector

International Financial Reporting Standards (IFRS) will have a significant impact on businesses across all industries. Given the prevalence of strategic transactions among pharmaceuticals and life sciences companies, including acquisitions and alliances, companies need to understand how the new financial reporting requirements could impact these transactions. Several major international pharmaceuticals and life sciences companies are already reporting under IFRS, and the transition has had a significant impact on their financial reporting.

The following publication discusses the key accounting issues relevant to pharmaceutical and life sciences companies as they make their conversion to IFRS. These issues include for example:

• Revenue recognition
• Business combination
• Impairment of long-lived assets
• Biological assets

Download the full publication.

Putting IFRS in Motion: The Impact of International Financial Reporting Standards on the Canadian Pharmaceutical and Life Sciences Sector (647 KB)