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Wiley GAAP 2008 by Colorado Steven M. Bragg Englewood, Ralph Nach American Express Tax and Business Inc., Barry J. Epstein

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Definitions of Terms

Cross‐collateralizedA contractual arrangement granting distribution rights to multiple films, territories and/or markets to a licensee. In this type of arrangement, the exploitation results of the entire package are aggregated by the licensee in determining amounts payable to the licensor.
DistributorThe owner or holder of the rights to distribute films. Excluded from this definition, for the purposes of applying SOP 00‐2, are entities that function solely as broadcasters, retailers (such as video stores), or movie theaters.
Exploitation costsAll direct costs incurred in connection with the film's distribution. Examples include marketing, advertising, publicity, promotion, and other distribution expenses.
Film costsFilm costs include all direct negative costs incurred in the physical production of a film, including allocations of production overhead and interest capitalized in accordance with FAS 34. Examples of direct negative costs include costs of story and scenario; compensation of cast members, extras, directors, producers, and miscellaneous staff; costs of set construction and operations, wardrobe and accessories; costs of sound synchronization; rental facilities on location; and postproduction costs such as music, special effects, and editing.
Film printsThe materials containing the completed audio and video elements of a film which are distributed to a theater to exhibit the film to its customers.
Firm commitmentAn agreement with a third party that is binding ...

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