The CPA and the Film Industry

There are several interesting ways that a CPA can service the Film Industry … IF you can get past the general distrust that the Film Industry has of outsiders.

RESEARCH WHAT INTERESTS YOU ABOUT THE FILM INDUSTRY

Do some research. What sort of accounting services does the Film Industry require from a CPA? What are the industry specific practices, reports and terminology? I hear about the Film Tax Incentives in some States. How does that open the door to new business for my practice? What software is used during a film or television production? I think you’ll find that there is very little, if any, information available online – and most of what you’ll find is authored by me.

WHAT PRODUCERS EXPECT FROM A CPA

Producers and Studio Execs have high expectations of anyone they contract with, especially a CPA who charges out at an hourly rate. They will expect the CPA to be familiar with their everyday terminology and to contribute to solutions. Just a few terms considered common are:

  • Inventory (the current cost of developing and producing “product”),
  • Fringes (government and union benefits),
  • Back-End (final equity available),
  • IATSE Turnaround (penalties assessed by crew when not enough given enough overnight rest),
  • SAG residuals,
  • etc

If you are interested in servicing the Film Industry there are a couple of ways you can learn more.

LEARN THROUGH WEEKEND WORKSHOPS – 23 HRS of CPE

Workshops are always the most fun way to learn. I have another one coming up on May 2nd and 3rd in Tampa Bay, Florida.

For more info see http://www.filmaccounting.com/filmworkshops3.htm

LEARN THROUGH ONLINE COURSES – 2 HRS of CPE PER COURSE

However, getting to the workshop location, and breaking away from the office, aren’t always possible – for you or for me. At the end of each online course qualifying for CPE I ask the student if the “stated objectives of the course” were met. There has never been a “No” yet…. that’s 100% of the time every student has said that the stated objectives were met.

For more detailed information about the online courses see http://www.filmaccounting.com/filmaccounting-cpe.htm

If you would like to see the additional comments made by students who have completed the courses of the courses I have listed them below, along with links to short YouTube videos describing each of the course’s content.

Cheers / John


 

 

Several students also had other good things to say.

A SAMPLE OF ADDITIONAL COMMENTS MADE BY STUDENTS

Course #1. Film Accounting and Auditing – An Overview

  • “Yes. Great introduction of the role the production accountant will play within the overall film production life-cycle.”
  • “Yes – it was pretty much an overview. I feel I have a much better understanding of film accounting now.”
  • “Yes! Very easy to follow. An excellent intro to the industry.”
  • See this short video reviewing the content of this course.

Course #2. Film Accounting and Auditing – The Basics

  • “Yes, great to see the various sample forms. The workflow charts are also very helpful.”
  • “Yes, the detailed explanations of the various forms, as well as the general ledger software, were very helpful.”
  • “Yes, very useful. I now have a sound understanding of the basic principles of production accounting.”
  • See this short video reviewing the content of this course.

Course 3. Film Accounting and Auditing – Intermediate

  • “Yes. Great explanation of the inter-relationships between the various reports and overview of the audit plan.”
  • “Yes. Enjoyed the course and learned a great deal about auditing productions.”
  • See this short video reviewing the content of this course.

For more detailed information about the online courses see http://www.filmaccounting.com/filmaccounting-cpe.htm

 

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About filmproduction
I have worked in the film production industry since 1985, working on over 50 different productions of every size in 6 different countries. My self-published book, "Walk The Talk" is written in an easy to read manner for film students and working professionals who haven't had the chance to learn how to 'Direct the Money'.

2 Responses to The CPA and the Film Industry

  1. Jeff Edwards says:

    John is THE source for a CPA looking to learn about the film industry to serve the industry either as a service provider or as an employee. He has earned and deserves my highest recommendation!

    Jeff Edwards, CPA

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