posts tagged as ASC 606

By Amber Williams | December 06, 2018

ASC 606’s Impact on Loyalty Programs: Redemption is Key

Under the new revenue recognition standard, restaurants must now take a different approach to accounting for gift cards and loyalty programs. read more

By Kari Maue | October 04, 2018

How ASC 606 Impacts Franchisors’ Advertising Funds

ASC Topic 606 requires franchisors adjust their presentation of advertising fund dollars received and expended. read more

By Amber Williams | August 01, 2018

What Restaurants Should Watch Out for with the New Revenue Recognition Standard

Private restaurants can prepare now for the new revenue recognition standard’s impact on accounting for gift card breakage, loyalty programs and more. read more

By Restaurant Practice Leaders | March 07, 2018

Event Recap: IFA Convention Surfaces Key Challenges for Franchisors

The International Franchising Association’s (IFA) 2018 Convention in Phoenix, Arizona earlier this month provided a valuable opportunity to connect with both familiar and new faces, and hear from a variety of presenters about challenges... read more

By Carrie Shagat | August 03, 2017

FASB Accounting Updates and Amendments for Restaurants

The Financial Accounting Standard Board (FASB) has been busy over the past several years making technical corrections and improvements to existing standards and in some cases, creating new standards. The new standards are set to... read more

By Angela Newell | June 30, 2017

Topic 606, Revenue from Contracts with Customers, A View from the Kitchen

The new revenue recognition standard becomes effective on January 1, 2018 for public companies. Private companies can choose to adopt the new model early, but have an additional year to comply. With the clock ticking until implementation... read more

By Carrie Shagat | October 20, 2016

BDO Restaurant CFO Bootcamp Event Recap

From September 21 to 23, Las Vegas played host to BDO's Restaurant CFO bootcamp. The three-day event catered to industry professionals including independents, franchisees, franchisors and more. Throughout those three days, key issues and... read more

By Restaurant Practice Leaders | March 01, 2016

Revenue Recognition Changes (ASC 606) Coming for Restaurant Franchisors

In a typical contract between a restaurant franchisor and franchisee, the franchisor grants the franchisee the right to operate a restaurant using the brand name, concept, logo, food and operating system. The franchisor also typically... read more

By Nonprofit Practice Leaders | February 11, 2016

With Growth, Nonprofits Face Evolving Regulation

Amid technology advancements and a recovering economy, nonprofits capabilities are becoming more sophisticated, and so too, are the requirements being pressed upon them. read more

By Nonprofit Practice Leaders | May 27, 2015

Special Edition Nonprofit Standard Newsletter on ASC 606 is Now Available

Our Nonprofit & Education practice has just released a special edition of the Nonprofit Standard newsletter that is fully dedicated to a discussion of the Financial Accounting Standards Board (FASB) Accounting Standards Update (ASU) 2014... read more