- Friday, May 24, 2019
Join Plante Moran and PlaveKoch law firm for a webinar hosted by myLawCLE and co-sponsored by the Federal Bar Association. The session will help franchise attorneys understand the new GAAP model for revenue recognition, ASC Topic 606, Revenue from Contracts with Customers. The standard was required to be adopted by public franchisers in 2018, and is effective for nonpublic franchisors in 2019. Franchise attorneys will learn the core principles of the five-step process and the key judgments to be applied to the new revenue recognition model.
Presenters: Christa LaBrosse, Plante Moran, and Lee Plave, Partner, PlaveKoch
Key discussion topics:
- The five-step model & key judgments in each step
- Other considerations such as accounting for commissions, presentation of advertising funds, & methods of transition to the new standard
- Significant differences from the prior revenue recognition model
- Recent developments & guidance provided by the FASB