 |
|
 |
FASB Summaries |
Accounting:FASB SummariesFASB Exposure Drafts GASB Summaries GASB Exposure Drafts AICPA White Paper Taxation:Federal Tax FormsNew York State Tax Forms New York City Tax Forms Other State Tax Forms Tax Acct. & Regulatory Bulletin Ethics & RegulationCode of ConductBriefing Book on Issues Risk ManagementPeer Review SummariesRisk Mgt.& Liability Guidebook BookshelfOther CPA Journal PublicationsForensic & Litigation Svcs. Directory Career Opportunities Handbook |
Statement No. 53 Financial Reporting by Producers and Distributors of Motion Picture Films STATUS Issue Date: December 1981 Effective Date: For fiscal years beginning after December 15, 1981 Affects: Amends FAS 32, Appendix A Affected by: No other pronouncements Issues Discussed by FASB Emerging Issues Task Force (EITF) Affects: No EITF Issues Interpreted by: Paragraph 6 interpreted by EITF Issue No. 87-10 Related Issues: No EITF Issues Abbreviations for Accounting Pronouncements FAS - FASB Statements FIN - FASB Interpretations FTB - FASB Technical Bulletins APB - APB Opinions AIN - AICPA Interpretations ARB - Accounting Research Bulletins CON - FASB Concepts EITF - EITF Issues Q&A - FASB Implementation Guides SUMMARY This Statement extracts the specialized accounting principles and practices from the AICPA Industry Accounting Guide, Accounting for Motion Picture Films, and AICPA Statement of Position 79-4, Accounting for Motion Picture Films, and establishes standards of financial accounting and reporting for producers and distributors of motion picture films. Exhibition rights transferred under license agreements for television program material shall be accounted for like sales by the licensor. The sale shall be recognized by the licensor when the license period begins and certain specified conditions have been met. Producers and distributors that license film exhibition rights to movie theaters generally shall recognize revenue when the films are shown. This Statement also describes how producers and distributors shall account for film costs and participation agreements. Copyright by Financial Accounting Standards Board. All Rights Reserved. Used by Permission.
©2000 New York State Society of Certified Public Accountants. Legal Notices. |