Movie Money: Understanding Hollywood's (Creative) Accounting Practices, 2nd ed. Review

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Movie Money: Understanding Hollywood's (Creative) Accounting Practices, 2nd ed. ReviewThis book will help anyone who desires to learn how their box office ticket dollars are spent. The authors take you step by step through a standard profit participation agreement. I feel the authors are not as aggressive as they should be hollywood's unethical "creative accounting". The distributors and the audit firms would like artists to believe that the lack of knowledge is why many artist are "cheated" out of their net profits or as Eddie Murphy stated "monkey profits". All net profit participants should read this before they listen to their lawyers and auditors. Many auditors and attorneys are willing participants in the "net profit scam"!Movie Money: Understanding Hollywood's (Creative) Accounting Practices, 2nd ed. OverviewThe distribution of a motion's picture's "profits" is, for most filmmakers, a murky, labyrinthine domain ruled by studio/distributor accountants and lawyers. "Movie Money" unravels, demystifies, and clearly explains the film industry's unique, arcane creative accounting practices. It examines a film's various revenue-consuming components and presents numerous film-industry definitions of gross and net profits and the many ways in which these figures are calculated. It also provides in-depth discussions of various aspects of profit participation terminology, accounting practices, and deal practices along with chapters on audits, claims, and negotiating tips and tricks. This Second Edition greatly expands the first edition's coverage of basic cable providers and new rulings regarding motion picture industry financial reporting practices and new material on vertical integration (i.e., studio self-dealing).

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