New Accounting Rule ASC 606 Will Greatly Impact Franchisors And Consultants

Rule ASC 606 The Financial Accounting Standards Board (FASB) and the International Accounting Standards Board recently jointly issued rule ASC 606 known as “Revenues From Contracts With Customers”.  ASC 606 has the potential to dramatically change the franchise industry.  In a nutshell, this new rule governs when the franchise fee can be recognized (from an accounting […]

Cash vs. Accrual Basis of Accounting – Part One Financial Reporting

The primary difference between the two principal business accounting methods for financial reporting purposes, cash basis accounting and accrual basis accounting, is the point in time when revenue and expenses are recorded. When using the cash basis method, revenue is recorded when payment is received from customers and expenses are recorded when payment is made to vendors […]

Tax Tips That Will Put Tax Dollars Back Into Your Pocket (Part 2)

Somebody said “the main thing is to keep the main thing, the main thing”. The main objective of this blog is to show taxpayers tax tips that can save taxpayers some tax dollars. Charitable Giving: This is another pretty good way of reducing your tax liability. Taxpayers can generally deduct cash or non-cash charitable donations […]

What States Have Franchise Laws?

If you are a new franchisor, you must be aware of not only the federal franchise law that requires disclosure of certain information to a prospective investor in a franchise, but you must also be aware of state franchise laws. FEDERAL FRANCHISE LAW Federal law is governed by the Federal Trade Commission’s Franchise Rule and the […]

Givers Gain

It’s said that you never have to worry about being without when you focus on giving to others. Take the focus off yourself and be of service to those around you. It’s a simple concept but do most of us do this on a regular basis? Dr. Ivan Misner, the Founder and Chairman of BNI, […]

Page 6 of 8« First...45678