Movie Money: Understanding Hollywood's (Creative) Accounting Practices

From Booklist
When columnist Art Buchwald sued Paramount for plagiarism and breach of contract over the 1988 film Coming to America, a by-product was the revelation that Hollywood's accounting practices are more than slightly deceptive. That movie grossed $350 million worldwide, but Paramount was able to claim that the movie failed to show a profit. Daniels and his coauthors shed light on the issue. One coauthor, David Leedy, was a CPA with an admitted grudge when he self-published a 1980 booklet Motion Picture Distribution--An Accountant's Perspective. He sold more than 5,000 copies out of a post office box in Hollywood. In 1990, he updated his guide, relying on revelations that came out of the Buchwald case, but a finished book never made it to market. This newest, more polished version is a result of a collaboration between Leedy and Daniels, an entertainment journalist, and Steven Sills, head of a Hollywood auditing firm. The authors target "entertainment professionals" as their intended audience, but Movie Money will fascinate anyone interested in show business. David Rouse


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Written by a trio of movie industry lawyers and accountants who explain the arcane accounting practices of the film and television industry. In doing so, they provide tools to directors, writers, actors, and other members of the talent pool who are often shorted by the nebulous profit-sharing plans typical of studio economics. Discussion includes contract negotiation, differing definitions of "gross" and "net," production and distribution expenses, and auditing procedures, among other topics. No index. Annotation c. by Book News, Inc., Portland, Or.


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