Does Auntie Annes include separate statements of comprehensive income in its consolidated financial statements, and if not, why?

According to Auntie Anne's 2024 Franchise Disclosure Document, separate statements of comprehensive income are not included in the consolidated financial statements. The document states that comprehensive income is defined as the change in equity of a business enterprise during a period from transactions and other events and circumstances from non-owner sources. For the periods presented in the document, comprehensive income is the same as net income.

For a prospective franchisee, this means that the financial performance of Auntie Annes, as reflected in its financial statements, does not require a separate, detailed breakdown of items that would affect equity but are not part of the net income. This simplifies the financial reporting, as the net income figure effectively captures all changes in equity from non-owner sources.

This approach is acceptable under accounting standards when comprehensive income is equivalent to net income, streamlining the financial statements. Franchisees can focus on the net income as a complete measure of the company's financial performance without needing to analyze additional statements.