Accounting by Producers or Distributors of Films -- SOP 00-2

Now master lucrative engagements involving the booming film industry! Statement of Position (SOP) 00-2 provides guidance on generally accepted accounting principles for all kinds of films, including feature films, television specials, television series, or similar products (including animated films) that are sold, licensed or exhibited, whether produced on film, video tape, digital or other video recording format.

Learn this SOP’s requirements on recognizing revenue, reporting and amortizing of film costs, accounting for licensing arrangements and advertising costs, charging manufacturing and/or duplication cost of products for sale to expense and more. Examples of revenue recognition and allocation of revenue as well as illustrative examples of forecast methods of amortization and accounting for costs are included.