Book Review

Royalty Accounting by Edwin Fager

This Amazon Kindle book presents an overview of royalty accounting best practices in ten chapters and six appendices. The book makes extensive use of tables in Chapters 2, 3 and 4 to show sample journal entries. The chapter on management reporting features a sample royalties activities report while the chapter on financial audit issues highlights the key issues of concern to external auditors. The tax reporting chapter covers IRS reporting requirements for US and foreign authors.

Chapter 1 – What are Royalties?
Chapter 2 – Balance Sheet Accounts
Chapter 3 – Expense Accounts
Chapter 4 – Income Accounts
Chapter 5 – Financial Reporting
Chapter 6 – Management Reporting
Chapter 7 – Financial Audit Issues
Chapter 8 – Tax Reporting
Chapter 9 – Best Practices
Chapter 10 – Royalty Software Selection

Appendix 1 – Glossary
Appendix 2 – IRS Forms and Publications
Appendix 3 – General Ledger Accounts for Rights and Royalties
Appendix 4 – Royalty Software Vendor Guide
Appendix 5 – Quick Books Software Configuration
Appendix 6 – Contact the Author