Participation and Similar Arrangements (Chapter 5) • Participation arrangements are typically operating leases and fees paid under these arrangements should be reported as an expense rather than a contra- revenue. (i.e. 80/20 Splits)
• Third party license arrangements are typically not leases and would also be reported as an expense. (Yahtzee, Monopoly, etc.)
• Wide Area Progressives that are not accounted for as leases should report fees paid as contra-revenue. (Wheel of Fortune, etc.)
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Governmental Gaming Entities (Chapter 12) • GAAP Hierarchy (GASB 76) • Allocation of Assets & Liabilities (Tribe vs. Casino) • Reporting of Transactions Between Tribe & Casino • Asset Impairments • GAAP Determination for Transactions
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BlueBird CPAs
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