New lease standard: 5 things restaurant owners MUST know now

We all know lease accounting is changing for private companies starting in fiscal 2020. With leases being such a big component of the restaurant business, the new lease standard will have a significant accounting impact on restaurants. Gone are the days of having off balance sheet impact. Now, those operating leases will be grossing up …

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New revenue recognition standard: franchisors impact

Revenue recognition for private company franchisors will be changing drastically for fiscal 2019 and will require either a retrospective or modified retrospective application to prior years presented in your audited financial statements for FDD purposes. The main impact is affecting the recognition of the initial franchise fees and area development fees. Another impact is the …

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