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Archive for April 2017

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…

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What Is Florida Senate Bill 750?

BACKGROUND Florida Senate Bill 750 has taken one step closer to becoming law.  Known as The Protect Florida Small Business Act, Florida Senate Bill 750 would greatly impact both franchisors and franchisees doing business in Florida.  Senate Bill 750 would change the current law in Florida to protect franchisors from terminating or failing to renew…

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