Recipe for Success: ASC 842 Compliance for Restaurants | Tbsp

Navigating the complexities of lease accounting after transitioning to ASC 842 can be challenging for the restaurant industry. Join Tablespoon and FinQuery as they delve into the specific policies, processes, and internal controls restaurants need to consider for effective lease accounting management.

This webinar will explore the unique challenges and benefits of ongoing lease accounting in the restaurant industry, addressing how they impact your business. We'll also provide practical guidance on handling common lease transactions, month-end close procedures, and year-end reporting. Finally, we'll review ongoing compliance requirements, including lease accounting training and maintaining your solution's accuracy.

Learning Objectives:

• Uncover opportunities: Identify key advantages specific to post-transition lease accounting.
• Master lease modifications: Understand the steps, calculations, and journal entries needed to accurately record the impact of various lease changes and transactions common in the restaurant industry (e.g., rent escalations, lease renewals, tenant improvements).
• Prepare for year-end: Grasp the ASC 842 disclosure requirements and proactively identify potential audit issues.
• Maintain compliance: Establish the necessary actions to ensure the completeness and accuracy of your lease accounting solution.

By attending this webinar, you will gain the knowledge and tools needed to confidently manage lease accounting, optimize financial reporting, and support informed decision-making.