What years are covered by the audited financial statements for Afuri Ramen Dumpling included in the FDD?
Afuri_Ramen_Dumpling Franchise · 2024 FDDAnswer from 2024 FDD Document
e_1.jpeg)
yshcpa,com
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.
Source: Item 21 — Financial Statements (FDD pages 49–50)
What This Means (2024 FDD)
According to Afuri Ramen Dumpling's 2024 Franchise Disclosure Document, the audited financial statements include data for multiple years. Specifically, there are balance sheets as of December 31, 2021 and 2020. There are also related statements of operations, stockholder's equity, and cash flows for the years then ended. This provides a two-year historical view of the company's financial performance.
Additionally, the financial statements include a balance sheet as of December 31, 2023, and related statements of operations, changes in stockholder's equity, and cash flows for the year then ended. There is also a balance sheet as of December 31, 2022, and the related statements of operations, changes in stockholder's equity, and cash flows for the year then ended.
Therefore, the audited financial statements in the 2024 FDD provide a picture of Afuri Ramen Dumpling's financial performance and position for the years 2020, 2021, 2022 and 2023. This information is crucial for prospective franchisees to assess the financial stability and historical performance of the franchisor before making an investment decision.