posts tagged as ASU


By Ryan Praschan | May 08, 2018

How to Evaluate Going Concern

What responsibilities do restaurant management have in evaluating going concern and disclosing uncertainties? Read our new Selections post for an overview of the FASB guidance, as well as considerations for evaluating an entity’s ability... read more


By Carrie Shagat | November 03, 2016

The Effect of Change in Control Transactions on Financial Reporting

M&A activity reached record levels in 2015 with deal volume reaching $4.9 trillion—and the momentum shows no signs of slowing. Within the restaurant industry, it seems much of this M&A activity is driven by the market’s saturation and... 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 Giselle El Biri | October 17, 2016

Variable Interest Entities – Guidance on ASU 2015-02: Part 2

Last week, we started exploring how the FASB’s revised guidance for variable interest entities (VIEs), ASU 2015-02, can impact restaurant businesses. In today’s post, we round out our discussion with more details about how this guidance... read more


By Giselle El Biri | September 19, 2016

Variable Interest Entities – Guidance on ASU 2015-02: Part 1

The variable interest entity (VIE) rules continue to be a hot topic for restaurants. Many times, a restaurant may set up separate legal entities for various purposes, such as a real estate entity that owns the restaurant facility or a... read more


By Carrie Shagat | April 20, 2016

FASB Finalizes New Guidance for Accounting for Stored-Value Products

Accounting for customer obligations (stored-value products) has long been a hot topic within the restaurant industry, and in March 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-04... read more


By Kari Maue | March 18, 2016

FASB Finalizes New Guidance for Lease Accounting Standards – What You Need to Know

The pending changes in lease accounting have been a hot topic since the Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB) issued a discussion paper for public comment in 2009.  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 Restaurant Practice Leaders | April 18, 2014

FASB Issues Update for Discontinued Operations

On April 10, 2014, FASB issued Accounting Standards Update (ASU) 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360). read more


By Restaurant Practice Leaders | February 04, 2014

FASB Issues Final Standards Related to the Private Company Accounting for Goodwill and Interest Rate Swaps

On Jan. 16, 2014, FASB issued two Accounting Standards Updates (ASUs) which provide accounting alternatives within U.S. generally accepted accounting principles (GAAP) for private companies.... read more