Deloitte's New Financial Reporting Update Provides Fresh Accounting Insights for Life Sciences Companies

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Mar 20, 2018, 09:04 ET

NEW YORK, March 20, 2018 /PRNewswire/ --

What:	2018 edition - and ninth annual - Deloitte Life Sciences Accounting and Financial Reporting Update – Including Interpretive Guidance publication

Who:	● Chris Cooper, partner, U.S. audit & assurance leader, life sciences and health care, Deloitte & Touche LLP ● Jeff Ellis, partner, life sciences industry professional practice director, Deloitte & Touche LLP ● Dennis Howell, senior consultation partner, accounting services and life sciences deputy industry professional practice director, Deloitte & Touche LLP



When:	Available immediately

Details:	Tax reform, new licensing guidance and a host of other changes to accounting standards may fundamentally change the way life sciences companies report financial results in 2018 and beyond. Financial professionals may be confronted with challenges in how they adopt and apply new accounting standards related to revenue recognition, leases, and the definition of a business, as well as existing guidance rules related to R&D costs, M&A transactions, contingencies, financial instruments, financial disclosure and more.

	In one of the most extensive overviews overview of its kind, Deloitte has published the "Life Sciences Accounting and Financial Reporting Update - Including Interpretive Guidance" publication which provides comprehensive, interpretive guidance on how life sciences companies can weather the coming regulatory storm.

	The implications are expected to be significant. Biotech companies seeking to raise capital for research and development initiatives may be impacted by complex terms and conditions associated with accounting for financial instruments, especially when approaching an IPO. Partnerships between collaborating companies bringing new products to market may be impacted by ongoing uncertainty related to accounting for these arrangements. Medical device companies may have to modify how they recognize revenue due to new revenue standards, to name just a few coming disruptions.

	This publication from Deloitte offers keen insights on these emerging issues, so that financial professionals in life sciences can better prepare to address these complex accounting challenges.

About Deloitte
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SOURCE Deloitte