What are the typical components of 'Accrued expenses' for All Team?
All_Team Franchise · 2025 FDDAnswer from 2025 FDD Document
findings, and certain internal control related matters that we identified during the audit.
Tampa, Florida
May 30, 2024
ALL TEAM FRANCHISE CORPORATION BALANCE SHEETS
AS OF DECEMBER 31, 2023 AND 2022
| 2023 | 2022 | |
|---|---|---|
| CURRENT ASSETS |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 33)
What This Means (2025 FDD)
According to All Team's 2025 Franchise Disclosure Document, the company's balance sheets for 2023 and 2022 list 'Accrued expenses' as a current liability. In 2023, All Team reported $231,956 in accrued expenses, while in 2022, the accrued expenses totaled $277,627.
Accrued expenses generally represent expenses that All Team has incurred but not yet paid. These can include a variety of items such as accrued salaries, wages, payroll taxes, rent, utilities, interest, and other services. The specific types of expenses included within this line item can vary from period to period depending on when the expenses are actually paid.
For a prospective All Team franchisee, understanding the nature and amount of accrued expenses can provide insights into the company's short-term financial obligations and overall financial health. While the FDD provides the total amount of accrued expenses, it does not detail the specific components. Therefore, it would be prudent for a potential franchisee to inquire with All Team about the specific items included in accrued expenses to gain a more comprehensive understanding of this liability.