The IFRS Issues and solutions for the pharmaceuticals and life sciences industries represents an authoritative analysis of accounting issues that the industry faces. This edition has been updated since 2005 to reflect changes in IFRS and interpretations and takes account of changes in the business environment including solutions for value based pricing arrangements and long dated receivables. The solutions are based on a specified set of circumstances but each situation faced by companies must be evaluated on its own facts which may differ from those in these solutions.
This publication provides a useful understanding of the accounting for the transactions you encounter in your business. By encouraging debate of these topics we aim to encourage consistent practices in financial reporting under IFRS. This consistency will be critical to the acceptance and usefulness of pharmaceutical and life sciences entities’ financial statements.