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Multimedia products raise problems for accountants
Under current Australian law, it is not certain whether multimedia works are recognized as discrete forms of property. Auditors must be aware of the nature of their clients' businesses, assets and liabilities. Therefore, if their client has multimedia assets they must know whether the client ow...
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| Published in: | Intheblack 1995-07, Vol.65 (6), p.57 |
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| Format: | Magazinearticle |
| Language: | English |
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| container_issue | 6 |
| container_start_page | 57 |
| container_title | Intheblack |
| container_volume | 65 |
| creator | Sharpe, Anna |
| description | Under current Australian law, it is not certain whether multimedia works are recognized as discrete forms of property. Auditors must be aware of the nature of their clients' businesses, assets and liabilities. Therefore, if their client has multimedia assets they must know whether the client owns all or part of those assets. Accounting standards do not deal specifically with accounting for internally generated intangible assets and it may be a long time before an accounting standard is introduced to cover this area. From the multimedia producer's point of view, it is therefore important not only to deal correctly with the legal issues surrounding multimedia but also to ensure that these valuable assets are correctly reflected on the balance sheet. |
| format | magazinearticle |
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| fulltext | fulltext |
| identifier | ISSN: 1832-0899 |
| ispartof | Intheblack, 1995-07, Vol.65 (6), p.57 |
| issn | 1832-0899 |
| language | eng |
| recordid | cdi_proquest_reports_211271306 |
| source | ABI/INFORM Global (ProQuest) |
| subjects | Accounting Auditing procedures Auditors Balance sheets Copyright Financial reporting Intangible assets Intellectual property Motion picture directors & producers Multimedia communications Multimedia computer applications Valuation |
| title | Multimedia products raise problems for accountants |
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