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Film & TV Courses
Long course / 20-24 February 2023

Introduction to Production Accounting

Course details

  • Location
    Online
  • Duration
    5 days
  • Commitment
    Full Time
  • Dates
    20-24 February 2023
  • Application Deadline
    February 03rd 2023
  • Course Leader
    Lucy Drake

Overview

Under the guidance of NFTS’ highly qualified teaching staff, the students will be given an in-depth presentation of ‘Production Accounting.’Lucy Drake holds a background in Performing Arts, specialised in Arts Administration, and has worked extensively as a Chartered Accountant. This combination of arts and accounting defined her future path as a Drama Production Accountant, where she worked on a broad range of productions, including EastEnders, Holby City and Silent Witness. She progressed to Senior Production Accountant at the BBC, mentoring and training Production Accounts teams across all production genres.  Lucy has worked as Head of Production at Big Light Productions (Frank Spotnitz’s London-based production company which specialises in high-concept transatlantic co-productions). As a freelancer, she provides production accounting support for Film and Tv with recent roles including Financial Controller on independent films Minamata and Undergods, shot in Serbia, and Intrigo, based on the best selling novel of Hakan Nassar. Her passion and experience in the industry led her to be a founding committee member of the industry-wide ‘Production Accounting Forum’ and co-authored their Best Practice Guide to Production Accounting.

Course Description

This course is specialized for local production accounting teams in Greece to gain an understanding of how UK productions manage their finances, and what they require from the Greek teams. This would therefore enable the Greek teams to be proactive in providing invaluable support to UK productions filming in Greece.

 

Day 1 – What is the purpose of Film / TV Production Accounting 

The importance of knowing how productions are made, and the key cost drivers. 

How to support Producers to ensure the production can be completed on budget. 

What is in the cost reporting package, how it is produced and how it is used.

 

Day 2 – Understanding the budget and setting up a production 

Movie Magic Budgeting – things to check eg fringes, matches schedule, specific local costs. 

Tax rebates and incentives, cashflows, forecasting

 

Day 3 – Systems

Production accounting software eg SmartAccounting 

Entering POs, invoices, payments, expenses. 

Running reports. 

Understanding coding and flagging.

 

Day 4 – Balance Sheet Management & Labour costs 

Understanding the balance sheet, regular reconciliations 

Local labour rules, how they differ from the UK, additional costs e.g. withholding tax. 
 

Day 5 – Summary 

What the UK Producers and Accountants think they need from the local team. 

What the local team needs from the UK team. 

What additional support / knowledge can the local teams provide that the UK Producer /FC don’t know they need.
 

Course will be delivered via Zoom each morning, with the afternoons dedicated to private study working through homework exercises provided.

Entry requirements

Applicants must be 18+ years old and have a strong command of the English language, as the course will be delivered in English.

Applicants must be experienced in accounting. 

How to apply

The applicants need to complete an online application form, in which they will elaborate on their professional background, education and experience and explain what their goals are and why they are applying for the course.

Application deadline: 3 February 2023

Maximum student numbers: 12 participants.

Fee

700 euros. All 2023 tuitions will be covered by Oxbelly.

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