AFAR: Franchise Accounting

Рет қаралды 21,324

Joe Mari Flores

Күн бұрын

Lecture on Initial Franchise Fees, Continuing Franchise Fees and Other Income

Пікірлер: 42

@dawsondelacruz3894 3 жыл бұрын

thank you po, God bless!

@cyrilacas4210 3 жыл бұрын

Thanks, Sir!

@jeniferquilantang2690 2 жыл бұрын

Thankyou po sir! Godbless you po 💓

@jee492 3 жыл бұрын

Thank you sir!

@joemariflores8041 3 жыл бұрын

Your welcome, Jee!

@marinohoneymae1465 3 жыл бұрын

thank you very much po ;) big help po lalo na sa mga 3rd year students ngayon na accountancy ;) Request po; Home office and branch accounting po both general and special :)

@joemariflores8041 3 жыл бұрын

Thanks, Honey Mae!

@ashcepuavin944 Жыл бұрын

THANK YOUUUUU kaayo sir. makatabang kaayo para sa akoang explanation. God bless.

@joemariflores8041 Жыл бұрын

Aja!

@kuysdelrosero4143 Жыл бұрын

Hi can you do a video on how to compute Royalty fee of a restaurant having a service charge industry

@m_o_o_s_h_i 11 ай бұрын

sir what will happen to the downpayment if there is substantial performance pero refundable?

@alhussienmacapodi1552 6 ай бұрын

ang galing ni sir!

@felviedag591 3 жыл бұрын

Hi,sir,can you pls help me,how much the franchisse fee ang royalty fee,to pay the frachisor.

@villanuevajennelyn9395 2 ай бұрын

❤

@josephinegarcia7786 3 жыл бұрын

Salamat po sir💙. Pwede po pa request sa tax po VAT. God Bless you po✨

@mengemsng4036 2 жыл бұрын

May I ask po kung ano po yung reference book po yung ginamit mo? Thank you po

@melbonesarra2821 Жыл бұрын

Sir hello po, ano difference ng Right to Use and Right to Access. Thank you po

@momochii4915 2 жыл бұрын

Good day po sir I love your videos po. MAy i just ask if 7050,000 po yung Operating income sa 24:10 . Error po ba iyon sir? Salamat po sa pagsagot

@elviesalac9948 3 жыл бұрын

Good day sir. Do you also have discussions about the Franchisee's revenue recognition?

@sportsminded4453 2 жыл бұрын

wala pong revenue si franchisee, intangible asset po ang recognition niya.

@wencysantos2046 3 жыл бұрын

Hello po Sir! May I just ask if, what if po ang nakastate po sa problem is "the franchisee is required to remit 5% of their SALES as continuing franchise fee"? Silent po as to GROSS SALES or NET SALES ang gagamitin, what to choose po between the two Sir? Thank you po😊

@joemariflores8041 3 жыл бұрын

Hi Wency! Usually in this case we go back to our basic rule in accounting, do not assume unless otherwise stated. Thus, we should not assume na net of adjustments. Pero what is good, pwede mo masense sa problem yan. If ever na nagbigay si problem ng sales adjustments, that mught be a flag na kailangan mo e adjust si sales. Pero kung wala namang given for sales adjustments, then better dahil walan kanang iisipin pa. However, in practice it should be clearly stipulated kung ano ang basis ng continuing franchise fee para walang conflict on both the franchisee and franchisor.

@wencysantos2046 3 жыл бұрын

@@joemariflores8041 Thankyou po sir! 😇

@incentcitive004 Жыл бұрын

Hi po, pas ask naman po ako, kasi nag try po ako magfranchise ng parang shawarma business. and the franchisor asks 40% and mine will be 60% of the total sales, masyado po ba yung mataas yung inaask ni franchisor? parang di na po sya royalty fee para po kasing naging partnership nangyari pero ako po ang nag gastos sa rental and renovation and furnitures. tamo po ba ito? they plan to pay the monthly rental around 15k pero ako po magbabayad ng dalawang tao parang 20k per month then for the electricity and water bills hati po kami. sana po makahelp kayo. ty po

@joemariflores8041 Жыл бұрын

Hello! You can revisit your franchise contact. What you are referring is Continuing Franchise Fee based on sales per year. But don't usually reach up to 40%.

@FinancialAspect 3 жыл бұрын

Is there any Accounting Standard which deals with franchise/branch Accounting

@joemariflores8041 3 жыл бұрын

Hi! Franchise Accounting is governed by IFRS 15 which supersedes IAS 18. Thanks by the way for watching my video!

@FinancialAspect 3 жыл бұрын

@@joemariflores8041 thanks

@joemariflores8041 3 жыл бұрын

@@FinancialAspect No worries! Should you have any querries on Franchise Accounting and other revenue regulation principles, do not hesitate to connect.

@FinancialAspect 3 жыл бұрын

@@joemariflores8041 what would be Accounting if only one person own head office and at other (5-7) branches there are different partners at each branch including the owner of head office. Owner sell his products to branches from head office at some margin/profit. I mean owner has income from two sources 1st from head office 2nd share of profit from branches

@FinancialAspect 3 жыл бұрын

Is this branche Accounting or franchise Accounting?

@kristinelagasca5465 2 жыл бұрын

What if ikaw po yung franchisee.. ano po yung treatment niya???

@joemariflores8041 2 жыл бұрын

If you are the franchisee, you record it as a tangible asset.

@stephenmartin8280 3 жыл бұрын

Good day po! Super helpful ng mga vids mo! More power. Question po. Sa 27:21 po ng vid, bakit po crinedit sa 2m yung “cost of franchise revenue”? parang magiging 0 bal po ang account na yun since dinebit siya sa prior entry...? Ano po logic ng entry na yun (ung “to set up deferred GP from franchise fee”)? Lalo ung naka credit po na cost of franchise revenue na 2m di ko po maintindihan. Salamat po Sir!

@joemariflores8041 3 жыл бұрын

Hi Stephen! Initially, the Direct Franchise Cost of 2M deferred since related revenue has not yet recognized. On December 31 of the same year, adjustment was made that is why it was credited to fully recognize the cost since there has been a substantial performance rendered by the franchisor, allowing to recognize the revenue as well.