Accounting for Film and Television Industry
Accounting for the Film and Television Industry The Film and Television industry uses accounting and business management to control its income, expenses, and other financial assets related to the success of a production. Over the past several years, the Canadian film and television production industry has grown and at present, represents a business with an annual income of approximately $3 Billion. Canada’s film industry plays a very important role in the global market due to movies being made for the United States, and even India. ... studios, Television networks and cable services have increased production in Canada, because they are attracted by the low Canadian dollar, first-class Canadian casts, crews, locations and facilities and big government support for the industry. European and Asian film companies have also found Canada to be an attractive location and have often been able to access Canadas numerous international film and television co-production treaties. Of Canadas ten provinces and three territories, the provinces of British Columbia, Ontario and Quebec are the most active in the television and motion picture production industries, and many other provinces are engaging in this business. ... The biggest center of film production in Canada is Toronto, which ranks 3rd in North America, after Los Angeles and New York. Because of the size of the industry, Toronto and Vancouver are often called Hollywood North to show their similarity to the real Hollywood. ... Such lockouts would be devastating mainly because a lot of accountants and managers employed by these companies would lose their jobs and the government would lose most o f its US-based film funding.