Biotechnology companies face considerable challenges in applying accounting principles related to revenue recognition because they partner with larger companies through collaborative arrangements to pursue scientific innovation. Under these arrangements, the companies agree to share technology and research costs associated with bringing medical therapies to market, and this gives them access to additional funding and commercialization networks. How the companies should recognize revenues under these arrangements is not entirely clear under current accounting guidance, and some companies have had to restate their financial results because of the lack of clarity. Moreover, some commentators have suggested that the current rules may not accurately reflect the underlying economics of the deals.
The Knowledge Congress is assembling a panel of accounting and biotechnology industry experts to help biotechnology company finance and legal advisers understand the revenue recognition principals as applied in this industry. Panel members will share their expertise in a LIVE two-hour Webcast.
Course Level: Intermediate
Prerequisite: None
Method Of Presentation: Group-Based-Internet
Developer: The Knowledge Conference
Recommended CLE/CPE Hours: 2.0
(Please note, your State Bar or Accounting Board will make the final determination with respect
to continuing education credit.)
Advance Preparation: Print and review course materials
Course Code:093864
John Rhodes
Global Managing Partner
Nicolas Morgan
Partner
Jeff Pickett
Managing Partner
Dan Zwarn
Partner, National Office
Michael McCollister
Senior Manager, Global Biotechnology Center
John Rhodes, Global Managing Partner, Deloitte & Touche LLP
Dan Zwarn, Partner, National Office, PricewaterhouseCoopers LLP
Nicolas Morgan, Partner, DLA Piper
Michael McCollister, Senior Manager, Global Biotechnology Center, Ernst & Young LLP
and
Jeff Pickett, Managing Partner, Connor Group
- Historical perspective of revenue recognition challenges in 00-21
- Proposed New EITF Guidance - EITF 08-1 and EITF 09-3
- 89, Milestone Accounting
- FASB/IASB convergence – implications for life sciences
- Legal Issues
- Biotech Firms,
- CFO's
- CPAs
- Controllers
- Accountants
- Auditors
- Senior Finance Executives
- Pharmaceutical and Biotech professionals
- Biotechnology and Medical Device Industries
This is a must attend event for anyone interested in having clear understanding on Revenue Recognition for Biotech Firms
- New guidance explained by the most qualified key leaders & experts
- Hear directly from key regulators & thought leaders
- Interact directly with panel during Q&A