An unofficial sequel to the movie "Ivan Vasilyevich Changes His Profession". The events take place on New Year's Eve 1997-1998, 24 years after the events of the movie. According to the plot, the main characters (Shurik, Bunsha, Zina and Ulyana Andreyevna) are going to celebrate New Year's Eve, and the engineer Alexander Sergeyevich Timofeev (Shurik) decides to present his recreated (and modernized) time machine to the guests. Having gone to the XVI century, they find there an aged Georges Miloslavsky, who has been sitting as regent for 25 years instead of Ivan the Terrible, who has run away; the Tsar was so inspired by the profession of Zina and Yakin that he decided to try his hand at filmmaking and went to "Mosfilm" instead of the Tsar's chambers. In an effort to correct the disruption of the course of history, the heroes re-engage the time machine and travel back to the 1970s in search of the Tsar, who dreams of becoming an actor.

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