Motion Picture and Television Industry: Accounting & Auditing Overview | 4181337A

Date :
October 23, 2018 8:30 AM - 4:30 PM
Location :
LA/Beverly Hills
Facility :
Doubletree Guest Suites Santa Monica
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Level of Difficulty :
Intermediate
Member Price :
275.00
Nonmember Price :
375.00
CPE Credits :
CPE 8.00, AA 8.00, MCLE 6.50
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Shine the spotlight on audit, accounting and tax practices unique to the entertainment industry to understand how the various areas of entertainment accounting impact each other.

Cover topics from production budgeting to GAAP to profit participations and to entertainment tax updates. Receive the essential information to be the star of the financial show.

Materials are provided as an ebook for this course.

Objectives:

  • Identify the motion picture budgeting and production process.
  • Determine capitalization and amortization of film costs: ASC 926, accounting by producers or distributors of films.
  • Recognize IASB and FASB new converged standards for revenue recognition.
  • Identify the components of motion picture distribution, including revenue and expenses.
  • Be aware of entertainment tax hot topics.
  • Get more familiar with studio breakevens for profit participation reporting.

Major Subjects:

  • Deal-making, budgeting and production process
  • Revenue distribution sources and expenses
  • SC 926, GAAP for motion pictures and television
  • New revenue recognition standards
  • Entertainment industry trends and challenges

Advanced Prep:

None.

Misc. Information:

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Level of Difficulty:
Intermediate
Field of Interest:
Accounting
Prerequisites:

General knowledge of motion picture and television industry, as well as entertainment accounting.

Designed For:

CPAs and attorneys.

Instructors

Ilan Haimoff, CFE, CFF, CIA, CPA, CPACFE

Ilan Haimoff leads the entertainment and media practice and the contract compliance and forensics department. His specialty includes profit participation and forensic accounting on behalf of talent, investors and co-producers at both the major and mini studios. Haimoff has over 23 years of accounting experience in public accounting and private industry serving clients primarily in the entertainment, financial services and distribution service industries. He has written various articles and other publications as well as participated in various speaking engagements, focusing on entertainment, profit participation, royalty, internal controls and anti-fraud.

Haimoff is a member of the Motion Picture and Television Fund Professional Advisory Council, the CalCPA Entertainment Conference planning committee (co-chair at least four times), the California State University Chancellor's Advisory Council on the Entertainment Industry, the Institute of Internal Auditors, the Beverly Hills Bar Association, the Association of Certified Fraud Examiners and the AICPA. Haimoff is a Certified Public Accountant (CPA), a Certified Internal Auditor (CIA), a Certified Fraud Examiner (CFE) and Certified in Financial Forensics (CFF) by the AICPA. He holds an accounting bachelor's degree from California State University, Northridge.

Daniel Benjamin Landes, CPA
Dan Landes has more than eight years of public accounting experience and is a senior manager within the audit practice at Green Hasson Janks, LLP. He provides accounting, auditing and general business consulting to a wide variety of companies and organizations that span multiple industries within the greater Los Angeles area, specifically within the media and entertainment and the employee benefit plan industries. Landes has been a guest lecturer at the UCLA Anderson School of Management, teaching revenue recognition. He also led a film production accounting seminar at California State University, Northridge and leads various firm trainings, including financial statement preparation, supervision and review, and the annual employee benefit plan audit training. In addition to lecturing, he also leads the firm’s recruiting efforts at the University of California, Santa Barbara, is one of the firm’s CPA champions, and is actively involved in the firm’s mentoring program. Landes has also served as a panelist at the CalCPA Education Foundation Employee Benefit Plans Conference for two consecutive years. Landes graduated from the University of California, Santa Barbara where he received a bachelor’s degree in business economics with a special emphasis in accounting. After graduation, he worked at Pricewaterhouse Coopers within its consumer products auditing practice and joined the Green Hasson Janks audit practice in 2009.
Akash D Sehgal
Akash Sehgal leads Green Hasson Janks LLP’s state and local tax practice with a focus on multistate income and franchise tax, sales and use tax, and credits and incentives. He has over 18 years of state and local tax experience including fifteen years at two Big Four firms in Los Angeles and Seattle. Sehgal assists his clients on complex state and local tax issues related to transactional planning, mergers and acquisitions, general day-to-day consulting and compliance. His experience includes handling state tax issues in California, Oregon, Idaho and Washington and local city taxes including the Los Angeles City Business Tax. Sehgal has experience working with a number of a number of entertainment companies in the area of film production, digital and new media and pre and post production services. He is a frequent speaker for a variety of tax associations including Tax Executive Institute (TEI) and the Council on State Taxation (COST), as well as for CalCPA and the WACPA. Sehgal has a bachelor’s degree in accounting from California Polytechnic University, Pomona.

Materials:

  • Materials - Hardcopy Textbook
  • Materials - ebook