This course is divided into two parts. Part I is designed to help you navigate the specialized accounting principles and practices for the media and entertainment (M&E) industry. It discusses all the important authoritative pronouncements on GAAP for broadcasters, cable television, films, and music. Relevant references to and excerpts from ASC 920, ASC 922, ASC 926, and ASC 928 are discussed throughout the course. It also provides specific examples to illustrate the application. Part II focuses on the ASC 606 revenue recognition requirements since it supersedes most industry-specific guidance. Entities across industries are required to follow the guidance of ASC 606. It explains how to apply the revenue model with an emphasis on situations specific to the M&E industry.
Learning Objectives
Upon successful completion of this course, participants will be able to:
Recognize industry-specific accounting standards for M&E entities
Identify the applicability of the revenue standard
Recognize revenue recognition principles focused on situations specific to the M&E industry
Major Topics
- Accounting for Broadcasters
Accounting for Cable Television
Accounting for Film Production and Distribution
Entertainment
- Music
The Revenue Recognition Model
Licenses of Intellectual Property
