| Commentary

413 Excluded income

| Commentary

413 Excluded income

Income arising from subsidiary and ancillary rights may be excluded from the profit calculation altogether, and if it is included at all, only a proportion of it will be brought into account. This will obviously not apply in the case of a pre-sale/negative pick-up arrangement1. Where a company has publishing or video interests, the gross receipts of the subsidiary will not normally be included but a definable royalty will be admitted in the accounts instead, and whilst distributors insist that their exhibitors include screen advertising revenue in statements of gross box office receipts, these items

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to LexisLibrary or register for a free trial