Specialized GAAP - EntertainmentCode: 25-GAAP-ENT

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Course Details

84 pages

Course description and objectives:

Specialized  Industry  GAAP:  EntertainmentThis  course  discusses  all  of  the  important  authoritative  pronouncements  on  GAAP  for  entertainment  industries.  This  course  addresses  accounting  principles, financial  reporting  presentation  requirements,  required  and  recommended  disclosures  for  the  entertainment industries such as broadcast, cable television, film, and music.  

Major Topics:

  • Recognize the reporting requirements for network affiliation agreements

  • Identify the accounting requirement for barter transactions in the broadcast industry

  • Identify key terms and how to treat different cost for the cable TV industry.

  • Recognize the direct selling costs for cable television providers.

  • Recognize  different  film  costs,  including  participation  costs,  exploitation  costs,  and manufacturing costs, and their accounting

  • Recognize factors that should be used to estimate future cash flows for a film.

  • Identify conditions for recognizing music as an outright sale vs. a license.

  • Account for royalty payments to music artists.

  • Recognizes  the  key  provisions  of  the  new  revenue  (ASC  606)  and  leasing  standards  (ASC  842) and identify the potential impact upon adoption of these guidelines.

    Presentation Method:  Self-Study


    Category: Accounting


    CPE credit:  3 Hours

    Program Level:  Update

    Prerequisites:  None

    Advance Preparation:  None

    Exam expiration date:  Participants must submit exams for grading within one year from the date of purchase


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