FASB Enhances the Accounting for Episodic Television Series
March 6, 2019
The FASB has issued an Accounting Standards Update (ASU), Improvements to Accounting for Costs of Films and License Agreements for Program Materials.
The ASU, which is being released in response to an EITF consensus, aligns “the accounting for production costs of an episodic television series with the accounting for production costs of films by removing the content distinction for capitalization.” Further, the ASU requires entities to “reassess estimates of the use of a film for a film in a film group and account for any changes prospectively.”
For more information, see the press release, ASU, and video on the FASB’s Web site.