moneypenny comfort factor (mcf)
As your production accountants, we offer you the Moneypenny Comfort Factor. This describes the confidence of having us as your ‘partner’ – professional production accountants who, since 1980 have been specialists in serving the financial needs of the entertainment industry.
The financial framework of a majority of film and television projects resembles a jigsaw puzzle in which pieces of development, production and marketing finance from a variety of sources are melded together. Within this delicate jigsaw framework, producers know that non-compliance or missed opportunities can be fatal to their project.
We pride ourselves on seeing the big picture, providing the ultimate resource base for producers, investors and talent to ensure all economic impacts of a project are accounted for and managed to best effect.
In a mature capital market all producers want to know how and why the money was spent and want comfort that it was spent to best effect. Producers and investors want to confirm that all avenues for optimal financing and revenue recoupment strategies in relation to ‘hard’ equity and ‘soft’ subsidy incentives, co-production treaty spends and VAT/GST credits were taken. Further, that all local taxes relating to foreign and local talent were accounted for and complied with and that all residual agreements were honoured and pay out costs minimised.
We understand the industry and its unique needs and are specialists.
The key features of our production accounting service are:
- Flexible approach to staffing – the production team always retain the right to interview and select every member of the proposed accounting team
- Adequate staffing resources/back-up to meet unexpected demand, illness and pressure points that can arise during the course of the production in a consistent and timely manner
- Individual accountants that benefit from a support structure that includes:
- regular training to maintain up-to-date knowledge of changing awards, incentives, co-production treaties, payroll fringes, GST/VAT and other production related taxes
- access to a specialist and unique information base through our subsidiaries and overseas affiliates in business & taxation, financing and their relationships with government and industry authorities
- Seamless integration from initial budgeting right through development, production, post-production and distribution if required
- A reputation built on an excellent track record on a wide range and scale of productions in various countries around the world
This unique integration of knowledge, experience and specialist resources is what sets Moneypenny apart from both mainstream accounting firms and individual freelance production accountants.