Pharma accounting is similar to traditional accounting, but with added complexities specific to the pharmaceutical industry. Bookkeeping for a pharma company is an essential part of this accounting system.

• Research and development (R&D) costs:  Developing new drugs is a lengthy and expensive process. Pharma accountants need to properly account for these costs, which can span years before a product reaches the market.
• Inventory management:  Pharmaceutical companies deal with a complex supply chain and need to track inventory closely. This includes raw materials, work in progress, and finished goods.
• Regulatory compliance:  The pharmaceutical industry is heavily regulated by the Food and Drug Administration (FDA) and other agencies. Pharma accountants must ensure that their clients comply with all financial reporting regulations.
• Tax compliance:  Pharmaceutical companies face complex tax issues, including tax credits for R&D and international tax considerations.

Here are some of the tasks that pharma accountants perform:

• Financial statement preparation: Pharma accountants prepare financial statements according to Generally Accepted Accounting Principles (GAAP) or International Financial Reporting Standards (IFRS).
• Management accounting: Pharma accountants provide financial data and analysis to help managers make informed decisions. This may include budgeting, forecasting, and cost analysis.
• Internal controls: Pharma accountants help to ensure that companies have strong internal controls in place to safeguard assets and ensure accurate financial reporting.
• Tax accounting: Pharma accountants help companies comply with complex tax regulations.

If you're interested in learning more about pharma accounting, there are a number of resources available online and in libraries. You can also speak to a professional accountant who specializes in the pharmaceutical industry.