January 17, 2019
The Emerging Issues Task Force (EITF) met on January 17, 2019, and deliberated the following topics:
- Issue No. 18-B, “Improvements to Accounting for Episodic Television Series”—In summary, the Task Force reached a consensus to align the accounting for production costs of episodic television series with the accounting for production costs of films by removing the content distinction. The Task Force also reached a consensus to allow an entity to assess a film group for impairment and to amend the presentation and disclosure requirements for films and episodic content. In addition, the Task Force agreed to make conforming amendments to Subtopic 920-350, Entertainment—Broadcasters—Intangibles—Goodwill and Other, to align its impairment and presentation and disclosure guidance with the Task Force’s decisions. The Task Force also reached decisions on other items, including amortization, cash flow presentation of payments for license agreements, transition and transition disclosures, private company considerations, and effective date.