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.
We hope you continue to find this publication useful in understanding the accounting for the transactions you encounter in your business. By encouraging debate of these topics, we will encourage consistent practices by the pharmaceuticals and life sciences industries in financial reporting under IFRS. This consistency will be critical to the acceptance and usefulness of pharmaceuticals and life sciences entities’ financial statements.