Where can I find the audited financial statements for Afuri Ramen Dumpling?
Afuri_Ramen_Dumpling Franchise · 2024 FDDAnswer from 2024 FDD Document
INDEPENDENT AUDITORS' REPORT
To the Stockholder Afuri Franchise, Inc.
We have audited the accompanying financial statements of Afuri Franchise, Inc., which comprise the balance sheets as of December 31, 2021 and 2020, and the related statements of operations and stockholder's equity and cash flows for the years then ended, and the related notes to the financial statements.
Management's Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.
Auditors' Responsibility
Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audits in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditors' judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
Opinion
Source: Item 21 — Financial Statements (FDD pages 49–50)
What This Means (2024 FDD)
According to Afuri Ramen Dumpling's 2024 Franchise Disclosure Document, Item 23 includes the audited financial statements. Specifically, the FDD contains the balance sheets, statements of operations, statements of stockholder's equity, and statements of cash flows. These financial statements are audited by independent auditors. For the 2020 and 2021 financial statements, the auditor was VSH, PLLC. For the 2022 and 2023 financial statements, the auditor was Sky Accountancy Corporation.
These audited financial statements provide prospective Afuri Ramen Dumpling franchisees with an overview of the company's financial health and performance. Reviewing these statements can help potential franchisees assess the franchisor's profitability, assets, liabilities, and cash flow trends. This information is crucial for making an informed investment decision.
It is important for potential franchisees to carefully examine the independent auditor's reports that accompany the financial statements. These reports express the auditor's opinion on the fairness of the presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America. Any qualifications or disclaimers in the audit opinion should be carefully considered, as they may indicate potential financial risks or uncertainties.
Prospective franchisees should consult with a financial advisor or accountant to thoroughly analyze the audited financial statements and understand their implications for the franchise opportunity. This professional guidance can help franchisees make a well-informed decision about investing in an Afuri Ramen Dumpling franchise.