Hollywood Accounting

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From Wikipedia, the free encyclopedia:

In accountancy, Hollywood accounting is the practice of distributing the profit earned by a large project to corporate entities which, though distinct from the one responsible for the project itself, are typically owned by the same people. This has the net result of reducing the project's reported profit by a substantial margin, sometimes even eliminating it altogether. This may be for income tax reasons, but more often it is to reduce the amount which the corporation must pay in royalties or other profit-sharing agreements.

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