FASB Finalizes Revenue Relief for Private Franchisors

Thoughtware Article Published: Feb 04, 2021

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On January 28, 2021, FASB issued Accounting Standards Update (ASU) 2021-02, Franchisors—Revenue from Contracts with Customers (Subtopic 952-606), Practical Expedient, to provide relief from the guidance in Accounting Standards Codification 606, Revenue from Contracts with Customers, for nonpublic franchisors. This article provides details on the ASU.

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