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Accounting for Franchise Fees: A Comprehensive Guide
Author: Dr. Evelyn Reed, CPA, CFE, MBA
Dr. Evelyn Reed is a certified public accountant (CPA), a certified fraud examiner (CFE), and holds an MBA from the University of California, Berkeley. With over 20 years of experience specializing in franchise accounting and taxation, she has provided consulting services to numerous franchise businesses and has authored several publications on the complexities of franchise fee accounting. Her expertise extends to both domestic and international franchise operations.
Publisher: Franchise Accounting Insights, a division of Business Publications International (BPI)
Business Publications International is a leading publisher of business-related journals and books, with a strong reputation for providing accurate and in-depth analysis on a variety of financial topics. Their Franchise Accounting Insights division specifically caters to the needs of franchisors and franchisees, providing authoritative guidance on all aspects of franchise accounting, including the crucial area of accounting for franchise fees.
Editor: Mr. David Chen, CA
Mr. David Chen is a Chartered Accountant (CA) with over 15 years of experience in financial reporting and auditing. His expertise in Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS) ensures the accuracy and compliance of the information presented in this article.
Keywords: accounting for franchise fees, franchise accounting, franchise fee revenue recognition, initial franchise fees, ongoing royalty fees, franchise tax, ASC 606, IFRS 15, franchise financial statements
1. Historical Context of Accounting for Franchise Fees
The accounting for franchise fees has evolved significantly over time. Initially, the treatment of these fees was less standardized, leading to inconsistencies in financial reporting across different franchise businesses. The development of Generally Accepted Accounting Principles (GAAP) in the United States and International Financial Reporting Standards (IFRS) globally brought a much-needed level of standardization. However, the specific treatment of franchise fees remained complex due to their multifaceted nature. They often involve upfront initial fees and ongoing royalty payments, each requiring distinct accounting methodologies.
The introduction of revenue recognition standards, such as ASC 606 (in the US) and IFRS 15 (globally), marked a significant turning point. These standards provided a more robust framework for recognizing revenue, including revenue from franchise fees, based on the transfer of control of goods or services. This shift emphasized the importance of identifying performance obligations within franchise agreements and allocating transaction price accordingly.
2. Current Relevance: ASC 606 and IFRS 15
The implementation of ASC 606 and IFRS 15 revolutionized accounting for franchise fees. These standards mandate a five-step model for revenue recognition, requiring a thorough understanding of the contract with the franchisee, identifying performance obligations, determining the transaction price, allocating the transaction price to each performance obligation, and recognizing revenue when (or as) the entity satisfies a performance obligation.
For franchise agreements, this translates to a careful analysis of the various components of the fees. Initial franchise fees often represent the transfer of rights and services like training, site selection assistance, and ongoing support. These are typically recognized over time as the franchisor fulfills its obligations. Ongoing royalty fees, on the other hand, are usually recognized as earned each period, based on the franchisee's sales or other performance metrics.
3. Key Aspects of Accounting for Franchise Fees
Initial Franchise Fees: These fees represent payment for the right to operate a franchise. The accounting treatment depends on the specific services provided. If substantial services are provided, revenue recognition is spread over the period of service performance. If minimal services are provided, revenue recognition may occur upon receipt of payment.
Ongoing Royalty Fees: These are periodic payments made by the franchisee to the franchisor, usually based on a percentage of sales. These fees are generally recognized as revenue in the period earned.
Other Franchise Fees: Franchise agreements may include other fees, such as advertising fees, technology fees, or training fees. Each of these requires separate analysis to determine the appropriate revenue recognition method.
Deferred Revenue: A significant aspect of accounting for franchise fees involves the proper recognition of deferred revenue. This arises when revenue is received before services are performed. The deferred revenue account is subsequently reduced as the services are provided.
Disclosure Requirements: Financial statements must provide adequate disclosures regarding franchise fees, including the breakdown of initial fees, ongoing royalties, and other fees. The method of revenue recognition should also be clearly explained.
4. Challenges in Accounting for Franchise Fees
Despite the improved standardization brought about by ASC 606 and IFRS 15, challenges remain in accounting for franchise fees. The complexity of franchise agreements, the variations in service offerings across different franchisors, and the need for accurate estimations of the cost to fulfill performance obligations can make the application of these standards challenging. Proper internal controls and robust accounting systems are critical for accurate financial reporting.
5. Conclusion
Accounting for franchise fees is a complex yet crucial aspect of franchise operations. The implementation of ASC 606 and IFRS 15 has significantly enhanced the accuracy and consistency of financial reporting. However, challenges remain, requiring a thorough understanding of these standards and a meticulous application to each specific franchise agreement. By adhering to these guidelines and best practices, franchisors can ensure compliance, enhance transparency, and improve the overall financial health of their business.
FAQs
1. What is the difference between initial franchise fees and ongoing royalty fees? Initial franchise fees are one-time payments for the right to operate a franchise, while ongoing royalty fees are periodic payments based on the franchisee's sales or other performance indicators.
2. How are franchise fees recognized under ASC 606 and IFRS 15? Both standards utilize a five-step model, focusing on identifying performance obligations and allocating the transaction price to those obligations. Revenue is recognized when (or as) the performance obligation is satisfied.
3. What are some common challenges in accounting for franchise fees? Challenges include complex franchise agreements, varying service offerings, and the need for accurate estimations of costs to fulfill performance obligations.
4. What disclosures are required regarding franchise fees in financial statements? Disclosures should include a breakdown of initial fees, ongoing royalties, and other fees, along with an explanation of the revenue recognition method used.
5. What is deferred revenue in the context of franchise fees? Deferred revenue arises when fees are received before services are performed. It's recognized as revenue over time as the services are provided.
6. How do I determine the proper allocation of transaction price to different performance obligations? This requires careful analysis of the contract and the relative value of each performance obligation. Expert advice may be needed in complex cases.
7. What role does internal control play in accurate franchise fee accounting? Strong internal controls are crucial to ensure accurate recording of transactions, proper authorization, and timely revenue recognition.
8. Can I use different revenue recognition methods for different components of the franchise fees? Yes, different components (e.g., initial fees vs. royalties) can have different revenue recognition patterns based on the nature of the service provided and the timing of the performance obligation fulfillment.
9. Where can I find more information on the specific accounting requirements for franchise fees? Consult the full text of ASC 606 and IFRS 15, as well as professional guidance from accounting bodies like the AICPA and IFRS Foundation, and reputable publications focused on franchise accounting.
Related Articles:
1. Revenue Recognition under ASC 606 for Franchise Businesses: A detailed explanation of the five-step model and its application to franchise fees.
2. Franchise Fee Accounting: A Practical Guide for Franchisees: Focuses on the accounting perspective from the franchisee's side.
3. International Aspects of Franchise Fee Accounting: Explores the complexities of accounting for franchise fees in different countries and under various IFRS interpretations.
4. Tax Implications of Franchise Fees: Discusses the tax treatment of franchise fees for both franchisors and franchisees.
5. Internal Controls for Franchise Fee Revenue: Details best practices for establishing robust internal controls to ensure accurate recording and reporting of franchise fee revenue.
6. Software Solutions for Franchise Fee Accounting: Reviews different software options available for streamlining the accounting processes related to franchise fees.
7. Common Errors in Franchise Fee Accounting and How to Avoid Them: Highlights frequent mistakes and offers practical solutions to prevent them.
8. The Impact of ASC 606 on Franchise Valuation: Explores how the changes in revenue recognition affect the valuation of franchise businesses.
9. Case Studies in Franchise Fee Accounting: Presents real-world examples illustrating the application of accounting principles to various franchise fee scenarios.
| accounting for franchise fees: Franchising Ross A. McCallum, 1993-04-12 Brings together accounting, tax and auditing rules and regulations relating to franchising in an indispensable resource for franchisees, franchisors and their accountants, lawyers and tax preparers. By presenting issues from both the franchisor's and franchisee's perspective, it promotes greater understanding between professionals. Replete with real-world examples that provide readers with working documents and procedures on which to model their own business practices. Topics include setting up the franchise; purchase costs, fees and revenues; financial reporting and disclosure; auditing; foreign franchisors in the U.S.; and more. Annual updates keep subscribers apprised of regulatory changes. |
| accounting for franchise fees: Accounting for Franchise Fee Revenue American Institute of Certified Public Accountants. Committee on Franchise Accounting and Auditing, 1973 |
| accounting for franchise fees: Franchising Ross A. McCallum, 2011-02-11 Product Description:This edition reflects the Accounting Standards Codification changes, particularly with regard to ASC Topic 952, Franchisors.In addition, cross references have been included to the International Franchise Reporting Standards (IFRS) for Small & Medium-sized Entities.Contents - Part A - By Chapter1. BUSINESS FORMAT FRANCHISING-AN OVERVIEW1.1 Franchise Marketing Arrangements1.2 Franchise Recruiting and Development Arrangements1.3 The Franchise Purchase2. FRANCHISE DEVELOPMENT/PURCHASE COSTS2.1 Franchise Program Development Costs (Franchisors)2.2 Franchise Purchase Cost (Franchisees)3. FRANCHISE FEES/REVENUES (FRANCHISORS/FRANCHISEES)3.1 Initial Franchise Fees3.2 Area Franchise Fees3.3 Continuing Franchise Fees/Revenue 3.4 Transfer Fees3.5 Franchise Renewal Fees4. SPECIFIC FRANCHISE TOPICS4.1 Franchise Deposits (Franchisors)4.2 Security Deposits (Franchisors/Franchisees)4.3 Franchise Selling Expenses (Franchisors)4.4 Approved Supplier Purchases and Volume Rebates (Franchisors) 4.5 Repossession of Franchise Rights (Franchisors)4.6 Franchisor's Option to Purchase Franchisee's Business (Franchisors)4.7 Sale of Company/Franchisee-Owned Outlets (Franchisors/Franchisees)4.8 Preopening/Opening Expenses (Franchisors/Franchisees)4.9 Franchise Cooperative Advertising Fund (Franchisors/Franchisees)4.10 Development/Construction Fund (Franchisors/ Franchisees)4.11 Long-Term Accounts Receivable (Franchisors)5. FINANCIAL STATEMENTS DISCLOSURE5.1 Description of Business/Summary of Operations (Franchisors/Franchisees)5.2 Unit Operating Statistics (Franchisors)5.3 Contingent Liabilities (Franchisors/Franchisees)5.4 Related Party Transactions (Franchisors/ Franchisees)5.5 Economic Dependence (Franchisors/Franchisees)5.6 Contractual Obligations (Franchisors/Franchisees)5.7 Saturation of Markets (Franchisors)5.8 Segment Information (Franchisors)5.9 Subsequent Events (Franchisors/Franchisees)6. SPECIAL AUDIT ISSUES (NOT COVERED IN PREVIOUS CHAPTERS)6.1 Conflict of Interest in Franchisor/Franchisee Auditing (Franchisors/Franchisees)6.2 Franchisor's Right to Audit Franchisee's Records (Franchisors)6.3 Franchisee Reporting (Franchisees)6.4 Minimum Working Capital (Franchisees) 6.5 Minimum Insurance Coverage Franchisors/Franchisees6.6 Auditor's Involvement with Annual Reports (Franchisors)7. FINANCIAL INFORMATION IN FRANCHISE DISCLOSURE DOCUMENTS (FRANCHISORS)7.1 Federal Trade Commission Rule (New Rule)7.2 States Franchise Legislation7.3 Disclosure Requirements: Item 21 - Fin. Stats.7.4 Financial Statements Enclosure Wording7.5 Auditor's Consent Letter7.6 Auditor and Audited Statements7.7 Timing of Audited Statements8. FINANCIAL PERFORMANCE REPRESENTATIONS IN DISCLOSURE STATEMENTS (FRANCHISORS)8.1 Summary of financial performance representations requirements8.2 Auditor's Function Related to Financial performance representations8.3 ExamplesAPPENDICES:A APPLICATION AGREEMENT/DEPOSIT RECEIPTB FRANCHISE AGREEMENTC AREA DEVELOPMENT AGREEMENTD MASTER FRANCHISE AGREEMENT E CONSTRUCTION AND RENOVATION AGREEMENTF FRANCHISE COOPERATIVE ADVERTISING FUND BY - LAWSG ACCOUNTING STANDARDS CODIFICATION - FRANCHISORS TOPIC 952H LETTER OF COMFORT FROM FRANCHISOR TO FRANCHISEE'S BANKI AUDIT CONFIRMATION LETTER TO FRANCHISEESJ ADVERTISING FUND COMPLIANCE REPORTK EXAMPLE OF A REPORT RELATING TO THE AMOUNT OF GROSS SALESL FEDERAL TRADE COMMISSION FINAL AMENDED RULE: PART 436 - DISCLOSURE REQUIREMENTS AND PROHIBITIONS CONCERNING FRANCHISING M NORTH AMERICAN SECURITIES ADMINISTRATION ASSOCIATION, INC. (NASAA)N DISCONTINUED OPERATIONS REPORTING-IMPLEMENTATION GUIDANCE and ILLUSTRATIONSO INTERNATIONAL FINANCIAL REPORTING STANDARDS for SMALL and MEDIUM-SIZED ENTITIESGLOSSARY |
| accounting for franchise fees: U.S. Master GAAP Guide Bill D. Jarnagin, 2008-09 In a single affordable volume, U.S. Master GAAP Guide offers solutions to many complex accounting and disclosure problems by providing accountants with superior technical analysis, new insights, and practical explanations of accounting principles. |
| accounting for franchise fees: Fundamentals of Franchising Rupert M. Barkoff, Andrew C. Selden, 2008 Fundamentals of Franchising is charged with useful definitions, practical tips, and expert advice from experienced practitioners. Written specifically to help lawyers and non-lawyers brush up on franchise law, this practical guide examines franchise law from a wide-range of experiences and viewpoints. Each chapter is written by two experienced practitioners and provides you with a well-rounded overview of franchise law and alerts you to issues that may require further research or expertise. |
| accounting for franchise fees: The Impact of Franchising on Small Business United States. Congress. Senate. Select Committee on Small Business. Subcommittee on Urban and Rural Economic Development, 1970 |
| accounting for franchise fees: Advanced Accounting I , |
| accounting for franchise fees: GAAP Guide Level A 2009 Jan R. Williams, Joseph V Carcello, Ph.D., CPA, Joseph V. Carcello, Terry L. Neal, 2008 Providing an analysis of authoritative GAAP literature contained in Level A of the GAAP hierarchy, this resource discusses each pronouncement in a comprehensive format that makes it easy to understand and apply. |
| accounting for franchise fees: Accountants' Handbook, Volume 1 D. R. Carmichael, O. Ray Whittington, Lynford Graham, 2007-06-04 This highly regarded reference is relied on by a considerable part of the accounting profession in their day-to-day work. This handbook is the first place many accountants look to find answers to practice questions. Its comprehensive scope is widely recognized and relied on. It is designed as a single reference source that provides answers to all reasonable questions on accounting and financial reporting asked by accountants, auditors, bankers, lawyers, financial analysts, and other preparers and users of accounting information. |
| accounting for franchise fees: Profit First Mike Michalowicz, 2017-01-18 Author of cult classics The Pumpkin Plan and The Toilet Paper Entrepreneur offers a simple, counterintuitive cash management solution that will help small businesses break out of the doom spiral and achieve instant profitability. Conventional accounting uses the logical (albeit, flawed) formula: Sales - Expenses = Profit. The problem is, businesses are run by humans, and humans aren't always logical. Serial entrepreneur Mike Michalowicz has developed a behavioral approach to accounting to flip the formula: Sales - Profit = Expenses. Just as the most effective weight loss strategy is to limit portions by using smaller plates, Michalowicz shows that by taking profit first and apportioning only what remains for expenses, entrepreneurs will transform their businesses from cash-eating monsters to profitable cash cows. Using Michalowicz's Profit First system, readers will learn that: · Following 4 simple principles can simplify accounting and make it easier to manage a profitable business by looking at bank account balances. · A small, profitable business can be worth much more than a large business surviving on its top line. · Businesses that attain early and sustained profitability have a better shot at achieving long-term growth. With dozens of case studies, practical, step-by-step advice, and his signature sense of humor, Michalowicz has the game-changing roadmap for any entrepreneur to make money they always dreamed of. |
| accounting for franchise fees: Franchising in America Thomas S. Dicke, 2017-12-15 Using a series of case studies from five industries, Dicke analyzes franchising, a marketing system that combines large and small firms into a single administrative unit, strengthening both in the process. He studies the franchise industry from the 1840s to the 1980s, closely examining the rights and obligations of both the parent company and the franchise owner. Originally published in 1992. A UNC Press Enduring Edition -- UNC Press Enduring Editions use the latest in digital technology to make available again books from our distinguished backlist that were previously out of print. These editions are published unaltered from the original, and are presented in affordable paperback formats, bringing readers both historical and cultural value. |
| accounting for franchise fees: Franchising Demystified Wayne Maillet , 2014-10-20 Now in its second edition, it has been updated with current statistics and a more global scope! Whether you are considering getting into a franchise, or have made the commitment, Franchising Demystified provides you with a deep understanding of the franchisee-franchisor relationship. This definitive franchise handbook provides you with the tools to effectively assess the right franchise opportunity for you and then maximize your return on investment. Loaded with practical tips, Franchising Demystified helps you: - Identify the best franchise opportunities - Determine if franchising is right for you - Fully understand your rights under the license model - Improve and build upon the franchisee-franchisor relationship - Succeed and grow a successful, profitable business Real-life examples let you learn from other people's mistakes and experiences. Franchising Demystified is a must read for anyone considering buying a franchise or currently a franchisee |
| accounting for franchise fees: Franchising Practices Reform Act United States. Congress. House. Committee on Interstate and Foreign Commerce. Subcommittee on Consumer Protection and Finance, 1976 |
| accounting for franchise fees: Accounting Standards , 2007 |
| accounting for franchise fees: The Impact of Franchising on Small Business United States. Congress. Senate. Committee on Small Business. Subcommittee on Urban and Rural Economic Development, 1970 |
| accounting for franchise fees: Wiley GAAP 2008 Barry J. Epstein, Ralph Nach, Steven M. Bragg, 2007-10-05 This is a thorough study and analysis of all generally accepted accounting principles (GAAP) for 2008, restating the original, highly technical pronouncements in easy-to-understand terms while providing battle-tested implementation guidance and real-world examples. |
| accounting for franchise fees: Wiley GAAP 2010 Barry J. Epstein, Ralph Nach, Steven M. Bragg, 2009-10-12 This is a study and analysis of all generally accepted accounting principles (GAAP) for 2010, restating the original, highly technical pronouncements in easy-to-understand terms while providing battle-tested implementation guidance and real-world examples. |
| accounting for franchise fees: Wiley CPA Exam Review 2011, Financial Accounting and Reporting Patrick R. Delaney, O. Ray Whittington, 2010-10-05 This comprehensive four-volume set reviews all four parts of the CPA exam. With more than 3,800 multiple-choice questions over all four volumes, these guides provide everything a person needs to master the material. |
| accounting for franchise fees: Intermediate Accounting Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, 2011-03-15 Synopsis: INTERMEDIATE ACCOUNTING by Kieso, Weygandt, and Warfield is, quite simply, the standard by which all other intermediate accounting texts are measured. Through thirty years and twelve best-selling editions, the text has built a reputation for accuracy, comprehensiveness, and student success. |
| accounting for franchise fees: Corporate Controller's Handbook of Financial Management 2008-2009 Jae K. Shim, Joel G. Siegel, Nick Dauber, 2008 CCH's Corporate Controller's Handbook of Financial Management is a comprehensive source of practical solutions, strategies, techniques, procedures, and formulas covering all key aspects of accounting and financial management. Its examples, checklists, step-by-step instructions, and other practical working tools simplify complex financial management issues and give CFOs, corporate financial managers, and controllers quick answers to day-to-day questions. |
| accounting for franchise fees: Accountants' Handbook, Financial Accounting and General Topics D. R. Carmichael, Lynford Graham, 2012-06-05 This highly regarded reference is relied on by a considerable part of the accounting profession in their day-to-day work. This comprehensive resource is widely recognized and relied on as a single reference source that provides answers to all reasonable questions on accounting and financial reporting asked by accountants, auditors, bankers, lawyers, financial analysts, and other preparers and users of accounting information. The new edition reflects the new FASB Codification, and includes expanded coverage of fair value and guidance on developing fair value estimates, fraud risk and exposure, healthcare, and IFRS. |
| accounting for franchise fees: Overview of Franchising Armando O. Bartolome, 2008 |
| accounting for franchise fees: Wiley Revenue Recognition Steven M. Bragg, 2007-07-20 The most practical, authoritative guide to every aspect of revenue recognition-including Sarbanes-Oxley Revenue recognition is one of the most important-and one of the most difficult-figures for both preparers and users of financial statements. Wiley Revenue Recognition helps you confidently navigate and address the uncertainties in this intricate area of accounting. Accounting expert Steven Bragg provides not only a detailed view of the current accounting rules and regulations pertaining to revenue recognition, but also describes the exact sources of this information, how a company's treatment of revenue recognition is to be disclosed alongside the financial statements, and what policies, procedures, and controls can be used to enforce it in a consistent manner. Addressing revenue recognition from every angle with extensive supporting examples, this invaluable guide: * Shows how to comply with Sarbanes-Oxley by revealing key controls over revenue recognition * Applies revenue recognition concepts to multiple examples on every topic * Explores all aspects of revenue recognition, including control systems, supported by extensive examples * Illustrates the most complex revenue recognition concepts for easier reader comprehension * Provides descriptions of control points throughout the book * Addresses revenue recognition for various industries, including franchising, construction, motion pictures, not-for-profits, real estate, recording and music, services, and software Because revenue recognition rules vary both by type of transaction as well as by industry, the chapters of Wiley Revenue Recognition are clustered into transaction-related revenue recognition rules, and then into industry-related revenue recognition rules. In addition, there is coverage of: * Long-term construction contracts * Service revenues * Real estate sales * Revenue recognition from franchising operations * Examples of revenue disclosures Wiley Revenue Recognition is a thorough introduction to every aspect of revenue recognition-how to account for it, report it, and set up systems and controls to ensure that the rules are properly followed. With practicable, workable advice, this authoritative guide will assist you in consistently recognizing revenue in the correct amounts, at the right time, and in accordance with generally accepted accounting principles. |
| accounting for franchise fees: Hearings, Reports and Prints of the House Committee on Interstate and Foreign Commerce United States. Congress. House. Committee on Interstate and Foreign Commerce, 1976 |
| accounting for franchise fees: New York, N.Y., March 30, 1970; Washington, D.C., April 24, 1970 United States. Congress. Senate. Select Committee on Small Business. Subcommittee on Urban and Rural Economic Development, 1970 |
| accounting for franchise fees: Hearings, Reports and Prints of the Senate Select Committee on Small Business United States. Congress. Senate. Select Committee on Small Business, 1969 |
| accounting for franchise fees: Wiley CPA Exam Review 2010, Financial Accounting and Reporting Patrick R. Delaney, O. Ray Whittington, 2009-12-02 Everything Today's CPA Candidates Need to Pass the CPA Exam Published annually, this comprehensive four-volume paperback reviews all four parts of the CPA exam. Many of the questions are taken directly from previous CPA exams. With 3,800 multiple choice questions and more than 90 simulations, these study guides provide all the information candidates need to master in order to pass the computerized Uniform CPA Examination. Complete sample exam in financial accounting and reporting The most effective system available to prepare for the CPA exam-proven for over thirty years Timely-up-to-the-minute coverage for the computerized exam. Contains all current AICPA content requirements in auditing and attestation Unique modular format-helps you zero in on areas that need work, organize your study program, and concentrate your efforts Comprehensive questions-over 3,800 multiple-choice questions and their solutions in the four volumes Covers the new simulation-style problems Includes over 90 simulations Guidelines, pointers, and tips-show you how to build knowledge in a logical and reinforcing way Wiley CPA Exam Review 2010 arms test-takers with detailed outlines, study guidelines, and skill-building problems to help candidates identify, focus on, and master the specific topics that need the most work. |
| accounting for franchise fees: Guidebook to Illinois Taxes (2008) Fred Conklin, 2007-12 CCH's Guidebook to Illinois Taxes is the perfect resource for concise and reliable information for practitioners working with state taxation in Illinois. Designed as a quick reference work, the Guidebook presents succinct discussions of state and local taxes, describing the general provisions of the respective tax laws and regulations and highlighting significant cases and administrative rulings. This annual publication is useful to tax practitioners, in-state and multistate businesspersons, and those who are obligated to file Illinois returns or who are required to deal with Illinois taxes. |
| accounting for franchise fees: Wiley GAAP Steven M. Bragg, 2010-09-21 The most practical, authoritative guide to GAAP Wiley GAAP 2011 contains complete coverage of all levels of GAAP, now indexed to the new ASC. Wiley GAAP renders GAAP more understandable and accessible for research, and has been designed to reduce the amount of time and effort needed to solve accounting research issues. Provides interpretive guidance and a wealth of real-world, content-rich examples and illustrations Offers insight into the application of complex financial reporting rules Contains detailed index for easy reference use Includes a comprehensive cross-reference of accounting topics to the new FASB codification system Offers clear, user-friendly guidance on every pronouncement including FASB Technical Bulletins, AcSEC Practice Bulletins, FASB Implementation Guides, AICPA Statements of Position, and AICPA Accounting Interpretations Other titles by Epstein and Nach: Wiley GAAP Codification Enhanced Other titles by Bragg: Wiley Practitioner's Guide to GAAS 2010 With easy-to-access information, this practicable and reliable resource offers complete coverage of the entire GAAP hierarchy. |
| accounting for franchise fees: Wiley CPA Exam Review 2009 Patrick R. Delaney, O. Ray Whittington, 2008-12-03 Contains all current AICPA content requirements in regulationUnique modular format-helps you zero in on areas that need work, organize your study program, and concentrate your effortsComprehensive questions-over 3,800 multiple-choice questions and their solutions in the four volumes. |
| accounting for franchise fees: The National Public Accountant , 1975 |
| accounting for franchise fees: FINANCIAL ACCOUNTING FOR BUSINESS MANAGERS, Fifth Edition ASISH K. BHATTACHARYYA, 2016-09-14 Primarily intended for the first course in financial accounting for the postgraduate students of management, this systematically organized text discusses the essential concepts, principles and methods of financial accounting. It covers all important financial concepts and corporate financial reporting practices. The book, in its Fifth Edition, includes Revised Schedule III to the Companies Act, 2013, which provides Balance Sheet and Profit and Loss Account Format. Besides, more illustrations have been provided for easy grasping of the concept. The Schedule VI has also been explained at the appropriate places. While the emphasis throughout is given on the fundamentals, the book also skilfully analyzes advanced topics such as financial instruments, earnings management, internal control and internal audit, business combination and the logit model. |
| accounting for franchise fees: Intermediate Accounting, , Problem Solving Survival Guide Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, 2011-09-06 Reflecting the demands for entry-level accountants, the focus of this book is on fostering critical thinking skills, reducing emphasis on memorisation and encouraging more analysis and interpretation by requiring use of technology tools, spreadsheets and databases. |
| accounting for franchise fees: FCC Record United States. Federal Communications Commission, 1999 |
| accounting for franchise fees: Franchise Opportunities Handbook , 1994 This is a directory of companies that grant franchises with detailed information for each listed franchise. |
| accounting for franchise fees: Native American Trust Fund Accounting and Management Reform Act of 1993 United States. Congress. Senate. Committee on Indian Affairs (1993- ), 1993 |
| accounting for franchise fees: Accounting and Financial Management in Foodservice Operations David K. Hayes, Jack D. Ninemeier, 2023-11-30 A concise and easy-to-follow approach to foodservice accounting and the finance principles required to run a foodservice operation In Accounting and Financial Management in Foodservice Operations, a team of distinguished foodservice educators and practitioners delivers an up-to-date and straightforward treatment of the financial accounting standards and basic finance concepts owners and operators need to successfully run a foodservice operation. Learn how to understand and assess the financial performance of a foodservice business by using professionally prepared financial reports. The book explains the Uniform System of Accounts for Restaurants (USAR), as well as how to read income statements, balance sheets, and statements of cash flows. It discusses how to calculate a break-even point and demonstrates pricing tips to help owner/operators create a profitable menu. Other contents include: A thorough introduction to controlling food and beverage product costs Practical discussions of how to manage the cost of labor and staffing, as well as how to prepare an accurate operating budget Hands-on strategies for comparing planned and budgeted operating results to actual financial results Perfect for students in foodservice-related courses, Accounting and Financial Management in Foodservice Operations will also benefit foodservice establishment owners and operators and professionals working in colleges, hospitals, nursing homes, and more. |
| accounting for franchise fees: Accounting and Tax Aspects of Franchising Bruce S. Schaeffer, 1995 |
| accounting for franchise fees: Wiley CPA Exam Review 2012, Financial Accounting and Reporting O. Ray Whittington, Patrick R. Delaney, 2011-12-06 Published annually, this comprehensive four-volume paperback reviews all four parts of the CPA exam. Many of the questions are taken directly from previous CPA exams. With 3,800 multiple-choice questions, these study guides provide all the information candidates need to master in order to pass the computerized Uniform CPA Examination. |
| accounting for franchise fees: Code of Federal Regulations , 2008 |
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