Hollywood's Hidden Heroes: Why Your Favorite Shows Need Production Accountants (More Than Ever!)

🎭 Pro Spotlight: From Prep to Post, Nicole Bukowski Accounts for Every Dime.

In the midst of post-strike chaos and confusion about the future of the entertainment industry, producers are now facing a shortage of production accountants. These professionals are necessary to run the payroll and keep track of all the money collected and spent before, during and after a creative project is completed. 

We need skilled accountants to maintain accurate books and records because producers need to monitor all expenses, cash flow and be alerted to any issues related to paying the bills. Accurate financial records are also necessary if producers plan to apply for state and local tax credits which offset production costs. 

Production accountants also provide accurate financial information to vigilant investors, studios and streamers who want to know how the money was spent.

There are two kinds of accountants in the industry. First, production clerks and accountants who manage payroll, track expenses and issue reimbursements to cast and crew. Second, post-production accountants who oversee post expenses and provide audits for tax incentives and investors’ tax returns.

Unfortunately, the entertainment industry is not alone in needing skilled accountants.  

There are various reasons the number of people studying accounting is declining, according to members attending the 2023 PricewaterhouseCoopers Annual Accounting and Tax Symposium. Factors contributing to the declining accounting pipeline include:

• Accounting is perceived as boring.

• Compensation is lower than for other majors such as finance and technology.

• A lack of diverse students studying accounting.

• The accounting major is perceived as too specialized.

• The cost of education is too high.

• Enrollments in higher education are declining.

On the positive side, production accountants don’t need a formal degree in accounting, but still require training and apprenticeships, according to Jill Hewitt, training director of Entertainment Partners, a company providing payroll and other support services to the industry.

In 2023, she said Entertainment Partners ran a two-week training intensive with Netflix designed to give 15 people an overview of the production accountant’s role. While one dropped out on the first day, Hewitt said 14 people completed the program, with seven now continuing in the industry.  

Other companies are offering certificate programs to train production accountants to address the industry’s growing demand. Stage 32’s  Production Accounting Master Certification offers five courses for $299 each, including classes in Tax Incentive Management and Payroll. Once completed, certificate holders are added to a global database searchable by film commissions, streamers, studios, production companies, independent producers and financiers. 

To learn more about the ins and outs of this in-demand career in entertainment, I interviewed Nicole Bukowski, a New York-based freelance production accountant, who has a MBA in entertainment, and media management from the Metropolitan College of NY. 

Nicole Bukowski in Budapest

Jane Applegate (JA): What does a film production accountant actually do?   

Nicole Burkoswki (NB): Film production accountants help the producers determine the cost of a production in all stages from prep, shoot, wrap, post.  In prep or pre-production, production accountants take the script and break it down to determine the budget and cashflow of the project. In production or shoot, we keep track of the expenses, manage payroll, and provide daily and weekly reports on the production spending to the producers. During wrap and post, we make sure that all expenses have been paid and all paperwork is in order before handing over the project to the distributor. 

We usually work in the production office and not on the actual set. Sometimes we can work from home as long as the proper equipment is available.  On bigger productions, accountants usually have their own department and their own office space.

JA: How did you get into this profession?  Did you need special training?

NB: I got into production accounting because I needed a job. I was interning at the time for a production company and one of the producers knew a post producer who knew an accountant who was looking for a clerk.  I had never considered accounting, but at the time, I was out of grad school for about a year and needed a job. It was a paying job so I decided to go for it.

You don’t really need training to get started in accounting.  It’s pretty much a learn-as-you-go job. It didn’t hurt that I had a little bit of accounting knowledge and film knowledge. I have an undergrad degree from Rochester Institute of Technology and an MBA in Media Management from Metropolitan College of NY.

JA: Why is it so important to keep track of expenses during a shoot?

NB: It’s important to keep track of expenses so you know if you are on track with your cash flow.  The cashflow determines how much you have to spend, weekly, monthly, etc.  Tracking the expenses tells you how much of the budget you spent, how much is left and if you are going to be over budget or not. 

JA: If you are tracking the money on set, what does a post-production accountant do after the project wraps? 

NB: A post production accountant does the same things a production accountant does during filming, except for post costs such as post payroll, visual effects, ADR, editorial, etc.  They also keep track to see if post-productiont is going to be on budget or over budget.

JA: What do you like best about your job?

NB: What I like best about my job is that there is a beginning and an end and you can see the completed project hopefully on screen.  That and, if you have a good team, work can be a lot of fun.  

JA: What is the biggest challenge you face on set? 

NB: The biggest challenge is that sometimes we aren’t seen as part of the crew. It’s hard because while we are part of the crew, our job description is not a creative one.  We are in the office and not on set, so we don’t really get to know the crew one on one.  Not to mention dealing with people’s money, whether it is payroll or petty cash, is a touchy subject.

JA: Any advice for someone reading this who wants to look into becoming a production accountant? 

NB: The best advice I can give is to start out as a clerk and work your way up.  There are lots of Facebook groups that have job postings for clerks. I wouldn’t waste your money on production accountant certification classes that pop up, because it’s really not worth it. You need to work your way up from clerk to production accountant, and learning on the job is the best way. 

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Jane Applegate is co-founder of Showbizing. She’s the co-creator and executive producer of Remarkable Women: Out of the Shadows, a global anthology series about women behind the success of iconic men, funded in part by Creative Europe. Applegate teaches the business of film course at the Feirstein Graduate School of Cinema at Brooklyn College.

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