FASB’s influence on what you watch

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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.

Questions:

  1. How has the accounting for costs adjusted with the way we now consume media?
  2. What does the accounting standard eliminate?
  3. Explain the convergence model used in the accounting standard related to films and episodic content produced.
  4. What does the standard do to disclosure requirements?
  5. How do you anticipate the monetization of TV and movie content will affect you?

Source:

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