Who are the main users of royalty? What is royalty accounting? What is the importance of keeping royalties accounts? What do you mean by royalty explain its objective and importance? Music royalties is one of the major ways that artists, songwriters, composers, and publishers get paid for their work. They hold a copyright on the music, which means anyone willing to use their work; will have to get permission to do so. Royalties are designed to protect the intellectual property rights of a company. In terms of accounting, royalty is what a lessee pays to a lessor for the use of any rights, copyrights, franchises or any such asset. It is the system of sharing of revenues between the lessee and the lessor. Don’t you think that proper accounting of royalty helps determine the cost and reduce them? Let’s understand further with the help of the presentation, shall we? Please refer.

Vaisakh JP

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