Does An Entertainment Company Need A Management Accounting Arm? If It Does, How Would It Help The Company And What Would Be Its Function?

I believe that an Entertainment Company definitely needs a management accounting arm.

You don't need a whole accounting department if your company is small since it can easily do with 1-2 accounts people then. In case you have a huge company then of course you would be needing a proper department.

The reason you need an accounts department is because an entertainment company churns out huge money all the time. How can a General Manager just keep a track of all the money that comes in and goes out?

There's a lot of accounts work that needs to be taken care of when you are in the entertainment business. An entertainment company hosts events, sponsors event, arranges events etc. it might be using its own money or the money from some other company. Both ways it has to manage that money. It has to know what money went where. It has to keep a track of the budget. It has know what the actual and the estimated expenditure of the event was/is.

All these aspects have to be handled by a person who has experience in the accounts field. The entertainment company probably has other managers but all of them have different duties to perform. It won't be a wise idea to save up on the cost of hiring an accounts guy and burden an HR manager with all the accounts work too.