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FASB Franchise Agreements

Kilpatrick

ASC 606 and Its Impact on the Franchise Industry

Kilpatrick on

Revenue is a key component of all businesses, including franchisors, and it is important that counsel to franchisors have an understanding of the potential effects that accounting changes relating to revenue recognition can...more

King & Spalding

FASB Proposes New "Practical Expedient" to Recognition of Initial Franchise Fees (ASC 606)

King & Spalding on

On September 21, 2020, the Financial Accounting Standards Board (“FASB”) announced a proposed Accounting Standards Update (“ASU”), that if enacted, would provide a “practical expedient”, simplifying the analysis supporting...more

Shumaker, Loop & Kendrick, LLP

Client Alert: Business Owners–Did you really earn that revenue? The Authorities say “Not so FASB.”

Thanks to a new revenue recognition standard implemented by the Financial Accounting Standards Board (FASB), formally titled “ASC 606, Revenue from Contracts with Customers” (“ASC 606”), the ability of business owners to...more

Lewitt Hackman

Franchisor 101: New Revenue Recognition Rule for Initial Franchise Fees

Lewitt Hackman on

Most franchisors’ annual franchise registration renewal deadlines are a few months away. Nevertheless, franchisors should contact their accountants now regarding a new revenue recognition rule issued by the Financial...more

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