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2019 life sciences accounting and financial reporting update
Insights on new accounting standards and more
A year of major change for many pharmaceutical, biotech, medical device and diagnostic companies, and contract research organizations is underway. Deloitte’s latest update on life sciences industry financial reporting explains what accounting departments need to know to keep up in a rapidly evolving environment.
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A foundational year for life sciences
Many elements taking shape in 2019 could signal key changes for the future for pharmaceutical, biotech, and medical device and diagnostic companies and contract research organizations.
The shift from treatment to wellness, pricing pressures, digital technology expansion, scientific advancements, and increased use of real-world data are all expected to affect life sciences companies industry financial reporting this year. At the same time, finance and accounting personnel within these organizations face complex issues and must exercise significant judgment in applying accounting rules and related interpretations affecting life sciences companies.
Download the full 2019 Life Sciences accounting and financial reporting update or explore the highlights and downloads for individual sections below.
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2019 Life Sciences accounting and financial reporting update
Revenue recognition | Research and development | Acquisitions and divestitures | Consolidation | Contingencies | Statement of cash flows | Income taxes | Compensation | Financial instruments | Leases | Initial public offerings | Other accounting and financial reporting topics
More life sciences industry accounting and financial reporting topics
- Government assistance
- Common-control transactions
- Discontinued-operations reporting
- Cost of doing business
- Going concern
- Health tech
- PCAOB changes to the auditor’s report—critical audit matters