Pharma Accounting & Financial Reporting

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23 November 2020, Monday - 26 November 2020, Thursday

01.30 - 05.30PM

Details/ Promotion:
Please click here for more details and here to register. 
Accredited tax professionals enjoy 20% off! (Promo code: P40122SCTPSA20)
Please refer to organiser’s webpage here.
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Programme Synopsis

The pharma & biotech industry is capital-intensive, rapidly evolving and heavily regulated. It also comprises a vast network of entities researching, developing, promoting, collaborating & distributing medicinal & medical products. Amid economic uncertainty and continuous growths in R&D activities, the Finance & Accounting professionals require informed judgements to answer a wide range of complex questions

This masterclass offers advanced analyses of accounting & financial reporting practices crucial to Pharma & Biotech sectors, highlighting key considerations in relation to current economic climate. Discussions on latest standard developments and scenario-setting exercises will encompass practical topics including joint arrangement (e.g. collaborative research, co-development, copromotion); Revenue recognition (e.g. sale & outlicensing of IPs), use of financial instruments; Covid-19 related impairments; Asset acquisition & diverstitures; Tax planning; Lease contracts; as well as specific issues relating to manufacturing & clinical research.

Programme Outline

Key Learning Outcomes & Case Studies Include:
  • In-depth analyses of revenue recognition (IFRS 15) in pharma & life science sectors
  • Covid-19 particular considerations on accounting & financial reporting
  • Accounting and reporting issues relating to pharma manufacturing & contract manufacturing
  • Accounting for revenue sharing, profit sharing and milestone payments contracts
  • Issues relating to asset acquisition and mergers/acquisitions
  • Accounting for sale returns – saleable vs expired goods
  • Issues relating to research, development activities and clinical trials
  • IFRS 16 (Lease standard) and IFRS 9 (Financial Instruments) and impacts on pharmaceutical industry
  • IAS 12, deferred taxes and recognition of taxes in pharma industry
  • Issues relating to leasing of pharma manufacturing facilities
  • Hedge accounting for pharmaceutical industry

Case Studies & Discussions Include:
  • Covid-19 particular considerations on accounting & financial reporting
  • Accounting of chargebacks, rebates, promotion schemes etc.
  • Accounting for intangible assets (e.g. in-licensing arrangements, R&D expenditure, options over IP, research upfront payments) Challenges with goodwill/asset impairment
  • Identify the performance obligations in the contract
  • Identification of principal and agent, in case of arrangement with distributors
  • Contingencies and Loss Recoveries


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