posts tagged as GAAP

By Kari Maue | August 14, 2018

How Restaurants Can Capitalize Internal-Use Software

Restaurants can capitalize expenses associated with the development or adoption of internal use software through three deduction methods. read more

By Amber Williams | April 16, 2018

Is Refranchising Right for You?

Five key benefits of refranchising. read more

By Restaurant Practice Leaders | February 23, 2018

Franchising Beyond the Border

When considering business expansion, franchisors often look beyond the U.S. border to maximize growth. For many, Canada is an attractive option. read more

By Restaurant Practice Leaders | January 30, 2018

Expensing Termination Benefits for GAAP Purposes

In the normal course of business, employees may be terminated and given a severance package. It is important to know whether the payments are subject to an existing severance plan, which could be either a written employment agreement or... read more

By Kari Maue | January 18, 2018

Accounting for Closed Store Lease Obligations

It’s never easy making the decision to close a store, but once the choice is made, it’s important to understand how that decision will impact your GAAP financial statements. One critical factor to consider is the treatment of your... read more

By Restaurant Practice Leaders | April 20, 2017

Negotiating Tips On Debt Covenants and Personal Guarantees

Non-compliance with debt agreement financial covenants can be costly, time-intensive and distracting to your business. It is important to understand the financial covenants your lender expects you to uphold and the variables that could... read more

By Giselle El Biri | January 24, 2017

Impairment of Long-Lived Assets: GAAP and Tax Treatment

As restaurant operators well know, things do not always go as planned. For instance, areas where restaurants are operating can become saturated with competition, demographics and target audiences can evolve, or managements plans may... read more

By Kari Maue | January 09, 2017

Income Tax Basis of Accounting vs. GAAP

Once again, its time for annual financial statements to be compiled, reviewed, or audited and presented to comply with bank covenants. Banks and investors generally require year-end financials to be in accordance with generally accepted... 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 | May 18, 2016

Accounting Treatment for Promotional Cards

Amid continuously increasing competition and growth within the restaurant industry, restaurant operators often find themselves actively searching for ways to boost average unit volume and same store sales. read more