Written by Rohan Lamprecht. The term insolvency is commonly confused with bankruptcy and is often used incorrectly as a synonym for bankruptcy. Although both insolvency and bankruptcy deal with liabilities exceeding assets, insolvency refers to a financial state and bankruptcy to a distinct legal concept, a matter of law. Insolvency is defined as a financial condition or state experienced when: A legal entity* or a personâs liabilities (debts) exceeds their assets, commonly referred to as 'balance-sheet' insolvency; or
Production design is the visualization of the mood, tone, and character of each scene in a film; it's a foundation and reference point for the social group or groups in the film, providing contrast and root for each character or groups of characters and for the events in the film. Production design sets place.
In digital video, photography, television and film, production refers to the tasks that must be completed or executed during the filming or shooting. This includes tasks such as setting up scenes, the capture of raw footage, and usage of set designs, to name a few of the many pre-production tasks. Production is the second step in film creation. It follows the pre-production phase and evolves into the post-production. stage. See also pre-production and post production.