According to Accounting Today, the Financial Accounting Standards Board’s (FASB’s) recent accounting standard update adjusts production costs of films and episodic content produced for TV and online streaming services such as Netflix and Hulu.
How has the accounting for costs adjusted with the way we now consume media?
What does the accounting standard eliminate?
Explain the convergence model used in the accounting standard related to films and episodic content produced.
What does the standard do to disclosure requirements?
How do you anticipate the monetization of TV and movie content will affect you?
Cohn, M. (2019). FASB standard on film and TV episode costs may have an impact on what you watch next year. Accounting Today, July 5 (Retrievable online at
Deloitte LLP was fined 4.3 million pounds for audit failures of a unit of Serco Group Plc. Additionally, audit engagement partner, Helen George, was fined 97,500 pounds for failure to act in accordance with the fundamental principle of professional competence and due care.
After admission of misconduct by both Deloitte and Helen George, what happened?
Serco Group Plc agreed to pay 19.2 million pounds to settle a six-year fraud probe into false accounting related to what intentional mistatement?
Deloitte’s fine comes just weeks after PricewaterhouseCoopers fine for what?
Amazon.com Inc has just unveiled its online professional beauty store to sell supplies to licensed professional stylists, barbers and estheticians, and this move is causing the value of shares of other beauty retailers to drop.
Which beauty retailers does the article mention?
What will Amazon require for purchase?
Do you think this will be a profitable part of Amazon’s business and why?
Reuters staff. (2019). Amazon’s new beauty store for professionals poses threat to beauty retailers. Reuters.com, June 24 (Retrievable online at https://www.reuters.com/article/us-amazon-beauty-products/amazons-new-beauty-store-for-professionals-poses-threat-to-beauty-retailers-idUSKCN1TP21H)