Restaurant Finance Monitor | December 1, 2017
The Financial Accounting Standards Board (FASB), which sets U.S. GAAP standards, has clarified key language around its new revenue-recognition guidelines.
“Consequently, we were going to end up in a situation where those companies would have had to dip into their retained earnings to finance the current operations,” described Lee Plave, partner at franchise-focused law firm Plave Koch, ahead of the November 29 FASB meeting.