Summary of Statement No. 46
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.