Pending Accounting Changes Could Cost Studios Millions
Melody Petersen N. Y. Times News Service, THE JOURNAL RECORD
The nation's accounting rule makers have tentatively approved new financial reporting standards for the film industry that could cost some Hollywood studios hundreds of millions of dollars.
For more than a decade, movie studios have been able to use the current accounting rules to create their own special effects. Almost like magic, the rules have allowed some studios to show profits even when films flop. Often, they do this by postponing the recognition of advertising or film production costs far into the future.
The new rules -- still subject to final approval from the Financial Accounting Standards Board and from the American Institute of Certified Public …
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Publication information:
Article title: Pending Accounting Changes Could Cost Studios Millions.
Contributors: Melody Petersen N. Y. Times News Service - Author.
Newspaper title: THE JOURNAL RECORD.
Publication date: September 22, 1998.
Page number: Not available.
© 2009 THE JOURNAL RECORD.
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This material is protected by copyright and, with the exception of fair use, may not be further copied, distributed or transmitted in any form or by any means.
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