FASB ASC 952 – Franchisors
The Financial Accounting Standards Board (FASB) released Accounting Standards Codification 952 (ASC 952) to address those topics related to businesses that are considered to be franchisors.
These can be unique business models as they often include franchise fees, product sales, agency sales, repossessed franchises, franchising costs, and commingled revenue. In fact, the relationship between the franchisor and franchisee requires special accounting treatment as well.
For more in depth information on this and other FASB ASC topics, check out the following books.
Accounting made easy, for FREE!
Access the contact form and send us your feedback, questions, etc. We are always welcome to help someone out. You can also contact us if you wish to submit your writing, cartoons, jokes, etc. and we will consider posting them to share with the world! The Facebook and LinkedIn groups are also good areas to find people interested in accounting like yourself, don’t hesitate to join as everyone of all levels are welcome to become part of the community.