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Audit Services for the Life Sciences Industry
Addressing financial reporting complexities for Life Sciences companies
There are specific accounting and financial reporting issues related to life sciences companies. In addition, the new revenue recognition guidance and lease accounting changes will have implications across the life sciences industry.
Bringing together our financial accounting experience with our life sciences knowledge, we help provide you with intelligence to help the business operate better, now and in the future.
In addition to our core audit services, life sciences companies benefit from our industry-specific experience in areas such as:
- Revenue recognition
- In-licensing and out-licensing issues
- Recognition of nonrefundable, upfront license and fees
- Reporting revenue gross vs. net
- Multiple element arrangements
- Debt and equity transaction accounting
- Accounting for business combinations
- Acquisition of in-process research and development
- Timing of recognition for contracted research and development activities
- Lease accounting
A white paper about how entities in the life sciences industry may be affected by the new revenue recognition guidance in ASC 606.
Syneos Health, a public company, shares its ASC 842 implementation journey and how RSM assisted with acting as an extension of their team.
Pharmaceutical, biotech and medical device company finance leaders discuss ASC 842 lease accounting adoption complexities and challenges.