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Evaluating Going Concern: A Practical Guide For Restaurant Operators
For restaurant owners, “going concern” can sound like a technical accounting term that only shows up at audit time. In reality, it is simply the question every operator is already […]
401(k) Administration Considerations
For many restaurant groups, the 401(k) plan only gets attention when something breaks in payroll or an audit finding surfaces. From our vantage point as auditors and tax advisors, a […]
Understanding Restaurant Debt Covenants: Avoiding Surprises Through GAAP-Compliant Tracking
Debt covenants are a critical part of financing for restaurants, whether you operate a single concept or a multi-unit portfolio. These lender-imposed requirements, often tied to financial ratios, are designed […]
How To Strengthen Your Financial Foundation
Audit Harmony: How Assurance Firms & Outsourced CFO/Accounting Teams Are Elevating Hospitality Audits do not have to be intimidating or disruptive. In fact, in my experience working with restaurant groups […]
Navigating Impairment In The Restaurant Industry: A GAAP-Compliant Perspective
In the restaurant industry, Accounting Standards Codification (ASC) 360, Property, Plant, and Equipment (PP&E) typically represents a major investment, covering everything from kitchen equipment and furniture to leasehold improvements. While […]
Your Restaurant’s Big Purchases: And How GAAP Says To Depreciate Them
Get A Handle On Your Fixed Assets When it comes to managing your restaurant’s books, understanding the useful lives of your fixed assets is key to staying GAAP-compliant, planning for […]