Perspectives: Changes to accounting for film costs and license agreements

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Overview

On March 6, 2019, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2019-02, the updated standard that changes the accounting for costs of film and license agreements for program materials. The updated guidance aligns the capitalization for film and episodic television (TV) series production costs. In addition, the standard also addresses impairment, amortization and presentation/disclosure considerations for both traditional and non-traditional media entities.

This publication highlights the changes that broadcasters and entities that produce and distribute films and episodic TV series (collectively “films”) should consider as they transition to the ASU.

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Kevin Healy

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Partner, PwC US

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