Specialized Industry GAAP: Entertainment FLEXCAST

Overview

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 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 media and entertainment industry.

Highlights

Accounting for broadcasters. Accounting for cable television. Accounting for film production and distribution. Entertainment. The revenue recognition model. Licenses of intellectual property.

Prerequisites

None.

Designed For

CPAs, CFOs, controllers, financial professionals, and auditors.

Objectives

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.

Preparation

None.

Notice

This is a FlexCast (no exam required) and may be viewed only Monday - Saturday, 5am - 5pm PT. You may take up to one year from the date of purchase to complete the course. Pause your FlexCast and resume at a convenient day during the hours above. Partial credit for 2+ credit courses: If you are unable to complete the course in one sitting, partial credit can be awarded (minimum of one credit). To earn the remaining credits, you must return later and start the course from the beginning. Use chat to ask questions of a subject matter expert during the program.