What is the basis of reporting (year) that Augusta Lawn Care has adopted for its financial statements?
Augusta_Lawn_Care Franchise · 2025 FDDAnswer from 2025 FDD Document
The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("US GAAP"). As a result, the Company records revenue when earned and expenses when incurred. The Company has adopted the calendar year as its basis of reporting.
Source: Item 23 — RECEIPTS (FDD pages 44–184)
What This Means (2025 FDD)
According to Augusta Lawn Care's 2025 Franchise Disclosure Document, the company has adopted the calendar year as its basis of reporting. This means that Augusta Lawn Care organizes its financial records and reports on a January 1st to December 31st cycle.
For a prospective franchisee, this is relevant because all financial reporting and analysis provided by Augusta Lawn Care will be based on this calendar year. This includes any historical financial performance data presented in the FDD or during discussions with the franchisor. Franchisees will also need to align their own financial reporting to Augusta Lawn Care with this calendar year basis.
Furthermore, Augusta Lawn Care prepares its financial statements in accordance with accounting principles generally accepted in the United States of America (US GAAP). This ensures a standardized and transparent approach to financial reporting, which is crucial for potential franchisees when evaluating the financial health and stability of the franchise system.