Question

The FASB ASC contains guidance on various intangible costs incurred by entities in the cable television...

The FASB ASC contains guidance on various intangible costs incurred by entities in the cable television industry. Search the FASB ASC for answers to the following questions:

1. What is the prematurity period for these entities?

2. How are programming costs recorded during the prematurity period?

3. How should franchise application costs be recorded by these entities?

4. How should capitalized costs be amortized by these entities?

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Answer #1

1. Prematurity period will usually not exceed 2 years.

2. Those costs include property taxes based on valuation as a fully operating system; pole, underground duct, antenna site, and microwave rental based on rental costs for a fully operating system; and local origination programming to satisfy franchise requirements.

3.  Costs of successful franchise applications shall be capitalized and amortized in accordance with the provisions of APB Opinion No. 17, Intangible Assets. Costs of unsuccessful franchise applications and abandoned franchises shall be charged to expense.

4.  Costs that have been capitalized in accordance with paragraph 6(c) shall be amortized over the same period used to depreciate the main cable television plant.

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