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Course Details

Specialized Industry GAAP: Entertainment - v06 (Course Id 1182)

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Author : Jae K. Shim, Ph.D., CPA
Status : Production
CPE Credits : 2.5
IRS Credits : 0
Price : $24.95
Passing Score : 70%
Primary Subject-Field Of Study:

Accounting - Accounting and Auditing for Course Id 1182

Description :

Specialized Industry GAAP: Entertainment This course discusses all of the important authoritative pronouncements on GAAP for entertainment industries. This course addresses accounting principles, financial reporting presentation requirements, required and recommended disclosures for the entertainment industries such as broadcast, cable television, film, and music.

Each citation in this course will have its ASC topic number and description, ASC citation (XXX-YY-ZZ-PP).

Usage Rank : 0
Release : 2016
Version : 1.0
Prerequisites : None.
Experience Level : Overview
Additional Contents : Complete, no additional material needed.
Advance Preparation : None.
Delivery Method : Self-Study.
Intended Participants : Anyone needing Continuing Professional Education (CPE).
Revision Date : 25-Feb-2017
NASBA Course Declaration : Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam.
Approved Audience :

NASBA QAS - NASBA Registry - 1182

Keywords : Accounting, Specialized, Industry, GAAP, Entertainment, 2016, cpe, cpa, online course
Learning Objectives :

Course Learning Objectives

After reading this course you will be able to:
    Recognize the reporting requirements for network affiliation agreements.
    Identify the accounting requirement for barter transactions in the broadcast industry.
    Identify key terms and how to treat different cost for the cable TV industry.
    Recognize the direct selling costs for cable television providers.
    Recognize different film costs, including participation costs, exploitation costs, and manufacturing costs, and their accounting.
    Recognize factors that should be used to estimate future cash flows for a film.
    Identify conditions for recognizing music as an outright sale vs. a license.
    Account for royalty payments to music artists.
    Recognizes the key provisions of the new revenue (ASC 606) and leasing standards (ASC 842) and identify the potential impact upon adoption of these guidelines.
Course Contents :

Chapter 1 - Specialized Industry GAAP: Entertainment

Entertainment - Broadcasters

Terminology

Sources of GAAP

Rules, Concepts, and Illustrations

Key GAAP

Program License Agreements

Cost Allocation and Amortization of Capitalized Program License Agreement

Balance Sheet Valuation of Capitalized Program License Agreement

Network Affiliation Agreements

Barter Transactions

Entertainment - Cable Television

Terminology

Sources of GAAP

Rules, Concepts, and Illustrations

Key GAAP

Establishment of the Prematurity Period

Accounting for Costs during the Prematurity Period

Capitalization of Interest Costs during the Prematurity Period

Recognition of Hookup Revenue and Amortization of Capitalized Costs

Franchise Applications

Recoverability of Capitalized Assets

Review Questions - Section 1

Entertainment - Films

Terminology

Sources of GAAP

Rules, Concepts, and Illustrations

Key GAAP

Revenue Recognition-Basic Principles

Discussion of Revenue Recognition Considerations

Costs and Expenses

Discussion of Cost and Expenses Considerations

Entertainment - Music

Terminology

Sources of GAAP

Rules, Concepts, and Illustrations

Key GAAP

Accounting for Licensors

Compensation to Artists

Cost of Record Masters Incurred by a Record Company

Accounting by Licensees

Disclosure Requirements

New Revenue Standards

Overview

Considerations of the New Revenue Model

Licenses

Options to Acquire Additional Goods or Services

Variable Consideration

Barter Transactions

Direct-Response Advertising

New Leasing Standards

Background

Overview & Implications of the New Model

Review Questions - Section 2

Glossary

Accounting Course 1182 Home: https://www.cpethink.com/gaap-cpe-for-cpas
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