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Restaurant MasterClass – Mastering Lease Accounting: A Recipe for Restaurant Success
Webinar length: 60 min. To successfully navigate the intricate world of lease accounting and prepare for the second year of standards, it’s critical to understand the potential challenges that lie […]
New-And-Improved Accounting Rules For Common Control Leases
On March 27, 2023, the Financial Accounting Standards Board (FASB) published narrowly drawn amendments to the lease accounting rules. The updated guidance clarifies issues that are relevant to rental agreements […]
Top 10 Restaurant Topics In 2023
Keeping up with the ever-changing business environment doesn’t have to be taxing! Check out the top 10 restaurant topics we’re keeping an eye on. Labor Shortage and Wage Increase: […]
Tax Implications of ASC 842 Leases Implementation
After being delayed for numerous years, private companies are required to adopt and implement ASC 842 Leases starting in 2022 (if not already implemented). The good news is that although […]
Evaluating Your ROU Asset For Impairment
Overview and Guidance The adoption of Accounting Standards Codification (ASC) 842 Leases introduces new considerations that must be made regarding right of use (ROU) asset valuation and impairment. When evaluating […]
Year-End Audit Reminders
As we are now in early 2023, we are pleased to provide restaurateurs with an annual reminder of items to keep on the radar before the annual financial statement audit. […]