Summary of Statement No. 46

Financial Reporting and Changing Prices: Motion Picture Films (Issued 3/81)

Summary

This Statement supplements FASB Statement No. 33, Financial Reporting and Changing Prices. It requires enterprises that present information on a current cost basis to combine measures of motion picture films and related expenses at either historical cost/constant dollar amounts or at current cost amounts with current cost measures of other assets and expenses. This Statement is effective for fiscal years ended on or after March 31, 1981 and may be applied in financial reports for periods ending before it is issued that have not yet been published.

The Board will continue to work with the motion picture film industry to develop improved methods of measuring the effects of changing prices on this industry.