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

October 26, 2017
1:00 PM to 2:00 PM EST

Kate Blakemore
(614) 573-7799
Email
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  • 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 restaurants, especially 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. While franchisees and other owner/operators are not expected to experience the same far-reaching changes from implementing the new standard, some of the changes, in particular those related to the treatment of loyalty programs, may require system changes.

Join us on Thursday, October 26 to hear how the new standard will impact your restaurant 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.

Dustin Minton, Assurance Partner and National Restaurant Practice Co-Leader – BDO USA
Dustin co-leads BDO’s Restaurant Practice and serves as an advisor to restaurant companies across the U.S. Over his 19 years in public accounting, Dustin has worked with all segments and sizes of restaurants, giving him experience tackling all sorts of complex technical accounting issues, financial reporting requirements, and client-specific issues. Beyond providing traditional audit, review, and compilation services, Dustin uses his deep understanding of the industry to counsel clients in best practices related to internal controls, operational efficiencies, financing options, and growth strategies. Dustin is a regular speaker at industry conferences, including BDO’s Restaurant CFO Bootcamp.