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ELN » Topics » e Acquired product rights and finance charges

This excerpt taken from the ELN 6-K filed Mar 31, 2006.
e    Acquired product rights and finance charges
Under IFRS, contingent and potential product payments which are likely to be made in the future are recognised as a liability on a time discounted basis, with a corresponding finance charge being expensed annually. The contingent liabilities are released if the related assets are sold. Under U.S. GAAP, such contingent payments are not recognised in the financial statements until the related contingencies are resolved.
This excerpt taken from the ELN 6-K filed Apr 11, 2005.

Acquired product rights and finance charges

Under Irish GAAP, contingent and potential product payments which are likely to be made in the future are recognised as creditors on a time discounted basis, with a corresponding finance charge being recorded annually in the profit and loss

 

 

Elan Corporation, plc 2004 Annual Report

117

 


account. The contingent liabilities are released if the related assets are sold. Under U.S. GAAP, such contingent payments are not recognised in the financial statements until the related contingencies are resolved.

EXCERPTS ON THIS PAGE:

6-K
Mar 31, 2006
6-K
Apr 11, 2005

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