Briefly describe the guidelines provided by GAAP for the recognition of revenue by a franchisor for an

Question:

Briefly describe the guidelines provided by for the recognition of revenue by a franchisor for an initial franchise fee.

GAAP
Generally Accepted Accounting Principles (GAAP) is the accounting standard adopted by the U.S. Securities and Exchange Commission (SEC). While the SEC previously stated that it intends to move from U.S. GAAP to the International Financial Reporting Standards (IFRS), the...