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The New Revenue Recognition Standard: The Impact of ASC 606 on Franchisors

November 01, 2017
1:00 PM to 2:00 PM EST

Kate Blakemore
(614) 573-7799
  • Summary
  • CPE Information
  • Presenters
BDO USA, LLP invites you and your colleagues to a complimentary CPE-qualified webinar on the new revenue recognition standard that is poised to change the way franchisors recognize their revenue.

The new standard will result in a significant change in the accounting for upfront franchise fees and area development fees charged by franchisors. Public companies will generally adopt the new standard during their fiscal 2018 year. Private companies have an additional year to comply but should begin now assessing the impact of the new standard. With the clock ticking, are you ready?

Join us on Wednesday, November 1 to hear how the new standard will impact your franchise operation and what you should be doing today to prepare. 

Webinar Learning Objectives:

  • Describe the core principles and key steps to applying ASC 606
  • Recognize significant areas of judgment required by ASC 606
  • Apply the concepts in ASC 606 to franchise agreements, including upfront franchise fees
  • Apply the concepts in ASC 606 to gift card sales, loyalty programs, and other aspects of owner-operator accounting
Delivery: The webinar will be delivered via the BDO Online CPE Network
Prerequisites: None
Advanced Prep: None
Credits: 1.0 CPE credit in a field of Accounting
Program Level: Overview
BDO USA, LLP is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org

Angela Newell, National Assurance Partner – BDO USA

Angela has 20 years of experience in both auditing and operational and financial reporting. She has worked in both public accounting and in the private sector, including as the corporate controller of a publicly traded restaurant company. Angela is currently responsible for working with audit engagement teams throughout the firm to determine the appropriate accounting for a variety of topics, including the new revenue recognition and leasing standards. Angela is a member of the AICPA’s Revenue Recognition Working Group.

Alan Stevens, Assurance Partner – BDO USA

Alan has more than 21 years of assurance and audit experience across multiple industries, including franchising. He has an extensive track record planning and supervising attestation engagements for clients in both the public and private arena, as well as preparing the applicable financial statements and compliance reports in accordance with Generally Accepted Accounting Principles (GAAP), Securities and Exchange Commission (SEC), statutory, and Public Company Accounting Oversight Board (PCAOB) guidelines. Alan has helped numerous clients navigate complex business transactions, including equity and debt offerings, acquisitions, dispositions, and restructurings.