LIVE ON-LINE TRAINING - Production Managing Film Budgets, Cost Reports/Cost Controls
(Qualified
as Continuing Professional Education 13.5Hrs)
LIVE
ON-LINE TRAINING: For those interested in Producing, Line Producing, UPM'ing or
Auditing Film Productions.
LIVE ON-LINE SESSIONS x 9 - FILM BUDGETS
AND COST REPORTS
(CPE
Qualified - 13.5 Hours)
Objective:
Participants will
identify the specific ways to manage film production expenditures (known
as ‘Managing
Film Budgets’ in the film industry) and how to present the financial
statements (known as ‘Cost Reports’ in the film industry). At
the end of the series of 9 on-line training sessions attendees will be in an excellent position
to manage, manipulate, defend or question a Film Budget and a Cost Report.
(Note: during the film production the Weekly Cost
Report goes to all higher powers, and it’s the document audited for State Tax
Incentives – it’s a career maker/breaker.)
Description:
This
live on-line series presents the specifics of a Film Budget and how to manage,
estimate & report the actual costs with the Cost Report. New to this
workshop is an examination of the 6 different cost control systems that every
auditor, producer, line producer, UPM, etc needs to know in order to manage the
costs as they occur.
Who Should Attend: It is not only vital
for Producers, Production Managers, etc., it's also vital for the Public
Accountants (who will audit the final Cost Report) to understand what it's all
about. Assistant Film Accountants can use this series of on-line sessions to help them
to upgrade to a Key Film Accountant.
Major Topics:
Here's a bullet summary of the 9 live on-line training sessions.
- gain a
fluid understanding of the categories and terms used in a usual Film
Budget
- learn
the film industry union wage jargon
- learn
the effect of “fringes” (contributions to union and government
institutions) in managing a film production budget
- working
with the concept of Labor Worked Hours, Paid Hours and Fringes,
especially when working longer hours
- introduce
the Weekly Cost Report & give examples of what a career-maker/breaker
it is
- introduce
the 6 basic cost control systems and how these can be managed (as a
Producer, UPM, etc.)
- gain
familiarity with the procedure of managing the costs using actual examples
of Purchase Orders, Check Requisitions, etc.
- practice
how to ensure the costs are reflected in the cost report
- practice
how to estimate costs through to completion
of the project using standard industry specific procedures
- learn
how to present the standard Weekly Cost Report, inclusive of Over/Under
Budget line-items, in an acceptable format
Prerequisite:
Anyone with some film production or accounting experience or background education
Polls, Quizzes & Practical Assignmets:
All live on-line training sessions will have an attendance poll, as well as various practical assignments, quizzes and polls to consult the attendees understanding and to comply with CPE rules. The results are recorded by "Clock Time" and stored. Please participate as the results form part of the Certificate of Completion.
Policies:
In the event of internet failure there will be an option of rescheduling or partial refunding. See the bottom of this page for further policies on Certificate issunance and possible refunds.
Production
Managing: Film Budgets & Cost Reports – 9 Evenings of
Live On-Line Training
Note: Each session is recorded live and can
be reviewed at your convenience.
Less 10% Early Bird Discounts (DEADLINE MAR 2) = $328.50 Click
here.
The
live on-line sessions are scheduled on week nights to accommodate those who are
working:
Tues, Wed, Thurs Mar 16, 17, 18 from 7:30PM to 9:00PM EST
Tues, Wed, Thurs Mar 23, 24, 25 from 7:30PM to 9:00PM EST
Tues, Wed, Thurs Mar 30, 31, Apr 1 from 7:30PM to 9:00PM EST
NOTE: All live on-line sessions will be recorded so that those who can't make it, or who want to review the sessions at a later date, can do so on demand (everyone will
be given individual passwords
and access links).
LIVE ON-LINE TRAINING
x 9 SESSIONS - PRODUCTION MANAGING: FILM BUDGETS AND COST REPORTS
Web#1. The Film Production Budget
Introduced
90 Minutes (AA)
The purpose of this
session is to get a fluid understanding of the categories
and terms used in a usual Film Budget of more than $2 or
$Million dollars. Attendees are encouraged to have a hard
copy of the Master Budget in front of them and to take notes - Quizzes
will occur
randomly.
An actual film production budget is reviewed with the
purpose of understanding the industry specific departments and how they
inter-relate.
Key terms used in film production, but not widely used, are
cleared up. Familiarize the categories of the film budget, the standard
columns used
and demonstrate how the Producer manages a film budget to
the bottom line.
Particular time is spent over coming any inhibitions using
such terms as Above-The-Line, Below-The-Line, Gaffer, Grip, Extras, etc.
Discretionary & Non-Discretionary costs in the film bud
get are discussed and the impact on the Producer's decisions.
The location of certain types of costs are pointed out and
the purpose for that location are discussed.
Changes to the budget are demonstrated and how to track
them
The importance of labeling costs for various
State/Provincial Tax Incentives
Web#2.
Introducing Film Industry Labor Unions
90 Minutes (AA)
The purpose of this
session is to familiarize the attendees with the film industry
union wage jargon. A huge part of managing a budget is
managing the labor costs, so it essential we take enough
time to understand the basic elements.
The primary union for crew is the International Theatrical
& Stage Employees - known by everyone in film production as IATSE (Eye-At-See). The
appropriate pages of the basic IATSE
agreement is looked at (without getting lost in details) for the following
terms:
Scale rates
Overtime
“Gold”
Meal penalty
John demonstrates the IATSE local overtime
calculations under the Basic Agreement using the concept of Worked Hours and
Pay Hours.
Attendees calculate the pay hours and meal
penalties from examples given by
John. Answers are provided afterward for attendees to study.
(Same practice repeated a few times until
majority are comfortable with the
Pay Hours and Worked Hours calculation, as well as the Meal
Penalty
calculation).
John continues to use examples and correct
attendees as before.
--------
Depending on the time available the same steps
above are completed for Screen
Actors Guild daily actors (called Schedule A performers)
Web#3-1. The Concept of “Fringes”
(Government&Union Contributions) 30
Minutes (AA)
The
purpose of this session is to
introduce the term "Fringes". Fringes are usually 30% to 40% of the labor costs, so it is essential that you
know how to estimate
this cost and not be tongue-tied when discussing this cost in the film
budget.
and to show the
attendees that in order to manage this the producer must pay normal
government and union fringes – a breakdown of the types
of fringes is given.
When projecting costs (called Estimating in
film) it is common to average the
fringe rates for different unions. This process is reviewed for different
guilds and unions.
John shows the effect of fringes on the
different SAG calculations above – it is quite dramatic
Web#3-2.
The Concept of Labor Hours Worked and Hours Paid
60
Minutes (AA)
The
purpose of this session is to practice the combined knowledge
you've learned above - Labor Worked Hours, Paid Hours and Fringes.
The dramatic additional costs of working the 13th, 14th
hours is demonstrated. The attendees then work this out for themselves.
Some practice is given and Q & A, Quizzes, etc to ensure the attendees have a good grasp of this very important facet of
managing the film
budget.
Web #4-1. Introducing
the Weekly Cost Report
30 Minutes (TB)
The purpose of
this session is
to introduce the Weekly Cost Report & to give examples of what a career-maker
or career-breaker it is
regardless of your function in filmmaking.
The “Product” of the film production is what the audience sees on screen. However, for all productions (with the rare
exception) the measure
of it's success through to end of post-production is the
quality AS COMPARED TO to the cost. It's the Cost Report that tells the
financiers, studio execs,
bonding companies, etc
Concept of timing – the cost report is issued weekly
at a pre-assigned day (usually a Friday or a Monday). This keeps the
pressure on the
Producers, Production Manager and Film Auditor.
Define the columns of the Weekly Cost Report
Reading the Estimates-To-Complete
Column
Practical examples given for different estimated
Stunt man-days.
Attendees practice the effect of changing the
Estimates-To-Complete on the Cost
Report.
The concept of weekly “period closings” is
presented as industry specific.
Web #4-2. Introducing the 6 Basic Cost Systems
60 Minutes (TB)
The purpose of
this session is
to introduce the 6 basic cost control systems. The attendees don't need to
know how to do accounting, but
they
need to recognize the types of costs and how to control them during a film
production.
1
.The Purchase Order
2
.The Vendor Invoice
3.Check Requisitions
4.Petty Cash (not so petty in film production - often in the $0 to
$60,000/week range)
5.Payroll
6.Journal Entries (records financing interest, charges from the studio, etc)
The attendees are show each of the above and participate through
challenging questions, polls and quizzes.
Web#5.
The Weekly Cost Report – PO’s, Check Requests, P/C 90
Minutes (AA)
The purpose of this
session is to demonstrate how the Purchase Orders, Check Requests
and Petty Cash affect the cost report and how to
control the costs.
A practical example is given of a missing
Purchase Order for a Steadicam Rental at $3,000/Week.
The effect on the Cost Report is given when a
Purchase Order is not relieved when entering an invoice.
Example
– how to review the PO’s entered to the system
for and what to look out for.
Some
practical applications are put to the attendees:
Example
– an invoice has come in the mail
quoting a PO number which isn't posted in the Cost Report.
What do you do? How would that affect
the cost report?
Example
– an invoice has come into the
accounting area which is quoting a PO which
has been previously relieved. What do you do?
How would that affect the cost
report?
Example
– a PO is in the system and is getting old –
normally it would be paid within that time period. What do you do? How would
that
affect the cost report?
Etc.
Example
– the Wardrobe department has 4 people in a buying frenzy. You see
that there is a total of 420,000 outstanding in Wardrobe
petty cash. What do you do?
Example - yesterday you approved a $15,000 check request for (site fee, construction lumber, etc). The Film Accountant
has just brought
you the cost report for review. How do you assure yourself
that the cost has been processed and is reflected in the cost report?
Etc.
Web#6-1.
The Cost Report - Projecting Costs Then Using A PO
30 Minutes (AA)
The purpose of this
session is the give the attendees an example of how to ensure
the costs are reflected in the cost report.
Example – Hotel invoices not PO ’d
for Cast
A Day Out Of Days (DOOD’s) example is shown and
gone over.
The attendees are asked to estimate the cost of
a hotel in their area for that cast member based on the DOOD’s.
A PO is drawn up by the attendee for two
of the key cast.
The PO is
entered to the G/L.
The effect on the Cost Report is noted.
This process is done again for the same Cast,
but this time for their flights from the East (or West) coast, depending on the attendee’s
location.
The effect on the cost report is noted.
Web#6-2. The Cost Report Projecting Costs
to Completion – Extras 60
Minutes (AA)
The purpose of this
session is to give the attendees an example of how to control
costs that do not normally have a purchase order.
We examine the Costs To Date to see the date to
which the Extras have been paid.
We ask the 1st Assistant Director for
an estimate of the number of Extra Man-Days.
We estimate the future costs of Extras through
to completion.
We compare
that estimate with the Estimated Final Costs available on the Cost Report.
A different example is given of this to the
attendees and they work it out for themselves in conjunction with John.
A similar example is done with the Stand-In’s
Web#7-1. The Cost Report Projecting Costs
to Completion – Labor 30
Minutes(AA)
The purpose of this
session is to get familiar with estimating the labor costs in a
general fashion that isn't too time consuming.
This is a tricky projection that is somewhat
arithmetical.
I have prepared an Excel worksheet as the
demonstration and a few departmental cost report presentation.
Because this is a difficult step some review of labor hours worked and hours paid
(Overtime and other penalties) will be presented and
practiced.
We will work through a few departments until you
get understand the concept.
Then attendees will do several themselves based
on presentations given to them, submitting results.
John will go over the results with the
attendees.
Web#7-2. The Cost Report Projecting Costs
to Completion – Fringes 60
Minutes (AA)
The purpose of this
session is to get familiar with estimating the labor fringes
costs, again without getting too technical.
This a tricky projection that is somewhat
arithmetical.
I have prepared an Excel worksheet as the
demonstration and a few departmental cost report presentations.
Because this is a difficult step some review of labor fringe rates for various
categories of unions and guilds (and situations) will be presented
and
practiced.
We will work through a few departmental fringe
costs until you get understand the concept.
Then attendees will do several themselves based
on presentations given to them, submitting results.
John will go over the results with the
attendees.
Web#8-1. The Cost Report – Offsetting
Over-Budget Costs
30
Minutes (AA)
The purpose of this
session is to give the attendees a look at how Over-Budget costs can be offset to Under-Budget costs.
Offsetting the Variances Within the Department –
an example is given with the Set Dressing Dept.
The attendees will do an example for another
department based on my presentations.
Offsetting Variances Among Different
Departments.
An example will be given of this.
The attendees will do an example for themselves,
based on my presentations.
Web#8-2. The Cost Report Presentation-Acceptable
To Financiers
60 Minutes (AA)
The purpose of this
session is pull together all
of the skills that we’ve learned to date culminating in producing a good Weekly
Cost Report.
The Cost Report is presented with a covering
memo and a summary page of all offsets and over/under budget line items.
There is an industry specific way of making that
presentation.
John will present an acceptable Cost Report in
full.
The attendees will be emailed this Full Cost
Report in the first week of the on-line training.
The attendees, with hints from John, will review each department of the full
Cost report, making comments as a
Key Accountant for each
department.
John will track the Over-Budget items and the
Under-Budget items, finally resulting in a presentable Weekly Cost
Report.
Web#9.
Opportunities
90 Minutes (TB)
What a Producer, Production Manager, or Film Auditor WANTS and what he/she
NEEDS.
The Resume – how to convince the Producer, Production Manager, Film Auditor, etc that you’re the right person.
Ways & means to gather addresses and to meet
film producers, production accountants, etc.
Real examples of how this has worked for others.
Overall Sum
up and Q & A
Total
Live On-Line Training Sessions
13.5Hr
Less 10% Early Bird Discounts (DEADLINE MAR 2) = $328.50 Click
here.
The
live on-line sessions are scheduled on week nights to accommodate those who are
working:
Tues, Wed, Thurs Mar 16, 17, 18 from 7:30PM to 9:00PM EST
Tues, Wed, Thurs Mar 23, 24, 25 from 7:30PM to 9:00PM EST
Tues, Wed, Thurs Mar 30, 31, Apr 1 from 7:30PM to 9:00PM EST
NOTE: All live on-line sessions will be recorded so that those who can't make it, or who want to review the sessions at a later date, can do so on demand (everyone will be given
individual passwords
and access links).
Certificate Issuance & Refund Policies:
Certificate of Completions are awarded at the end of the workshop based
on John Gaskin’s assessment of the
attendee’s understanding of the materials as reflected by the attendee’s quiz
& practical results during the workshop. The number of “Contact Hours”
credited will be indicated, as well as any State reference number
Attendance & Testing Policy: All live on-line sessions will have an attendance poll at the beginning of each session as well as various practical assignments, Polls and Quizzes intermittently during each session (at least 2 every 1/2 hour as required by some
State CPE Regulations). The Poll/Quizz results are recorded and stord for each attendee, including the "Clock-Time". These results form an integral part of the CPE certificate awarding process, so please participate.
Refund Policy: All fees paid by the applicant shall be
refunded if the applicant is rejected by the instructor (John
Gaskin) before enrollment. An application fee of $25.00 may
be retained by John Gaskin Productions LLC if the application is denied. All fees paid by the applicant
shall be refunded if requested within 3 calendar days after starting the
workshop. All refunds shall be returned within 30 days.
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