Answer this honestly, have you ever wondered if you are in the wrong business?
I suspect accountants do not ask themselves this question. Accountancy is still considered to be the best profession in the UK. After all, every business needs an accountant.
I wouldn’t be surprised if small specialist Telecom providers are beginning to think that accountancy is the profession they should be in, after the recent Phone Pay Plus stipulation and cost burden which it has levied, creating a further layer of bureaucracy on premium phone operator regulations and user requirements.
However my question specifically relates to the gross revenue of ‘Pirates of the Caribbean 4′ known as ‘Pirates Of The Caribbean: On Stranger Tides‘. Critics may have initially given a rating of just 2 out of 4 but that pales into insignificance when you view its current financial performance:
Pirates Of The Caribbean: On Stranger Tides Box-office performance
- As of 21 July 2011 (less than 45 days after release) it had generated earnings of over $1 billion dollars.
- At that point it was already the 6th highest-grossing film of all time worldwide.
- At 21st July 2011 it was the highest-grossing 2011 film so far (just prior to Harry Potter – final episode revenues were released)
- It was the second highest-grossing film of the Pirates Of The Caribbean series
- At 21st July 2011 it was already the 4th highest-grossing Disney feature of all time worldwide.
- At 21st July 2011 it was already the highest-grossing 4th movie surpassing previous record-holder Star Wars: Episode I – The Phantom Menace ($924.3 million).
The volume of revenue earnings is breathtaking, but that is not all.
Taking into consider the
- speed of earnings, and
- the future revenue potential.
This $1 billion sales revenue for ‘Pirates of the Caribbean 4′ relates to box office takings of old fashioned movie houses. Consider the sales of ‘Pirates of the Caribbean 4′ DVDs worldwide. What might these be?
Time to ask ourselves again,
Ever wondered if you are in the wrong business?
Perhaps it is time we did.
In the meantime, are there questions you can ask about the speed of earnings as well as volume? Get your accountant to suggest which financials need answering. If it is plainly irrelevant to ask oneself “Am I in the wrong business?” then what are the right questions that I should be asking?
If you are still unsure, or if you need a second opinion, then it might be time to seek the advice of an external business consultant, in addition to working closely with your accountant, and if you are unsure about the responses from your existing accountant then perhaps it is time to compare accountants.