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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 […]
Unwrapping Rules For Gift Card Accounting Under GAAP
‘Tis the Season For Gift Cards As we enter the holiday season, now is a great time to refresh your understanding of gift card accounting under GAAP. For restaurant owners/operators […]
2024 401(k) Audit Readiness For Restaurants
Offering a 401(k) plan can be a powerful tool for restaurants to attract and retain employees, and staying compliant is more important than ever. Below is a concise summary of […]