What amount of other receivables did Amerispec Inspection Services report in 2024?
Amerispec_Inspection_Services Franchise · 2025 FDDAnswer from 2025 FDD Document
l statements include the fair value of long-lived assets, goodwill and intangible asset considerations, useful lives of long-lived assets and intangible assets, and assumptions utilized in determination of equity incentive. Actual results could differ from those estimates.
Cash
The Company maintains cash depository accounts, which, at times, may exceed federally insured limits. This risk is mitigated by maintaining all deposits in high quality financial institutions. The Company has not experienced any losses in such accounts.
Accounts Receivable
The Company records accounts receivable at their estimated net realizable value. Management monitors accounts receivable for delinquency and provides for probably uncollectible amounts through a charge to earnings and a credit to the valuation allowance based on its assessment of the current status of individual accounts, any known trends or uncertainties related to customer billing and account collectability, current economic conditions, and reasonable supportable economic forecasts. Balances that remain outstanding after the Company has used reasonable collection efforts are written off through a charge to the valuation allowance and a credit to accounts receivable. Management has determined that an allowance for credit losses of approximately $366,000 and $11,500 was necessary as of December 31, 2024 and 2023, respectively. The accounts receivable balance was $648,278 as of March 31, 2023.
Notes Receivable
Notes receivable are carried at face value less an allowance for credit losses. Management monitors notes receivable for delinquency and provides for estimated losses for specific receivables that are not likely to be collected. When determining the collectability of specific customer accounts, management cons
Source: Item 23 — Receipts (FDD pages 47–172)
What This Means (2025 FDD)
Based on the 2025 Franchise Disclosure Document, the excerpt provided does not contain information regarding the specific amount of "other receivables" for Amerispec Inspection Services in 2024. However, it does detail how the company handles accounts receivable and notes receivable.
The document states that Amerispec Inspection Services records accounts receivable at their estimated net realizable value and monitors them for delinquency. As of December 31, 2024, an allowance for credit losses of approximately $366,000 was deemed necessary. The accounts receivable balance was $648,278 as of March 31, 2023. Notes receivable are carried at face value less an allowance for credit losses, but no allowance was deemed necessary as of December 31, 2024, and 2023.
To obtain the specific figure for "other receivables," a prospective Amerispec Inspection Services franchisee should directly request this information from the franchisor. Understanding all components of receivables is crucial for assessing the company's financial health and stability.