Course Information

Course No:  144121

Course Name:  Specialized Industry GAAP - Entertainment and Media

Field of Study:    Accounting

Course Description:  

This course is divided into three 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. Part III highlights key aspects of the lease standard as leases are common in the M&E industry.

Learning objectives: After completing this section, you should be able to:

  • Recognize the basic principles of accounting for broadcasters, cable television, films, and music.
  • Recognize different film costs, including participation costs, exploitation costs, and manufacturing costs, and their accounting.
  • Identify the revenue model requirements (e.g. identification of the contract, licenses of intellectual property) that replace the legacy industry-specific revenue guidance.
  • Identify the key lease accounting requirements that create significant changes for the M&E companies.

Course Material: Online Material

Program level: Overview

Prerequisites: None

Advance preparation: None

Type of delivery method: QAS Self-study

Recommended CPE credits:   3.0

Final examination expiration date:   The program participant will have one year from the date of purchase to complete the course and final examination.



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