In this World, sin that pays its way can travel freely, and without a passport; whereas Virtue, if a pauper, is topped at all frontiers.

In classic Hollywood, when celebrities like Veronica Lake, Ava Lavina Gardner, Burt Lancaster, Albert Dekker, Spencer Tracy, Katharine Hepburn, and Sidney Poitier graced the silver screen, the studio used to control their images.

Everything from where these celebrities could be seen, what they could say, the pictures that were taken and disturbed, and what they could wear was controlled by the studio. Stumbling out the club on drugs and alcohol was not allowed, nor was speaking out about politics, and I will tell you why.

Celebrities are product, and the things they do and say can impact the movie or television show they are working on. A negative images or abuse of a fan can make someone not want to produce your film, could get your film banned in certain countries, and could bankrupt the studio.

Supposed you are a filmmaker and spend $15 million to produce a film. Over what period should the $15 million be expensed? Yes, it should be expensed over the economic life of the film.

However, what is its economic life? The filmmaker must estimate how much revenue will be earned from box office sales, video sales, and television—a period that easily can stretch five years or more.

If a filmmaker allocates the cost over five years, and the film produces revenue in the sixth year, proper matching has not occurred. Furthermore, in some cases, films flop, and yet the cost are spread out over five years in the hopes that the films will eventually succeed.

For example, in the mid-1980s Orion Pictures (now bankrupt) earned $7,300,000.00 ($7.3 million) in one year, but lost $32,000,000.00 ($32 million) the next year because it expensed 40 films that were not producing revenue.

It was alleged that the company had overstated its income in earlier years because it did not expense these costs earlier. This case demonstrates the difficultly of properly matching expenses to revenues and shows that allegations are just assumptions.

The use of adjusting entries makes it possible to report on the balance sheet the appropriate assets, liabilities, and owner’s equity at the statement date and to report on the income statement the proper net income (or losses) for the period.

However, the trial balance—the first pulling together of the transaction data—may not contain up-to-date and complete data. This is true for the following reason:

Some events are not journalized daily because it is inexpedient to do so. Examples are the consumption of supplies and the earning of wages by employees.

Some costs are not journalized during the accounting period because these costs expire with the passage of time rather than as a result of recurring daily transaction. Examples of such costs are building and equipment deterioration and rent and insurance.

Some items may be unrecorded. An example is a utility service bill that will not be received until the next accounting period.

So if your reporters and celebrities are out clowning, being political, disrespectful, or untruthful, and damaging property, they can bankrupt your company.

The cost of advertising on radio, television, and magazines for such products are sometimes considered prepayments. If we run a long advertisement campaign for soap and bleach, we sometimes report the cost as prepayments if we think we will receive sales benefits from the campaign down the road.

Presently it is a judgment call whether these costs should be prepayments or expenses in the current period. Developing guidelines consistent with the matching principle is difficult because situations vary widely from company to company. The issue is important since the outlays for advertising can be substantial. For example, the advertising budget for the BMW i8 is $22 million.

Conceiver a greater hope of a person, who in the beginning of his or her life, is hurried away by some evil habit than one who fastens on nothing.

Money, you think, is the sole motive to pains and hazards, deception and deviltry, in this World. How much money did the devil make by gulling Eve? And I do not have to sell my soul, I do not care if you do not like me.

Once you win in Oscar, you can basically be in any movie or TV show you want to because people think hear, “Oscar Award winning Actress Reese Witherspoon, or Halle Berry,” and know it is a great production.  “My only regret is I could not take Aaliayh home.” J.Cole