What was the net value of Auntie Annes' property, equipment, leasehold improvements, and land in 2022?
Auntie_Annes Franchise · 2024 FDDAnswer from 2024 FDD Document
m throughout the audit.
- Identify and assess the risks of material misstatement of the consolidated financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.
- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control. Accordingly, no such opinion is expressed.
- Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the consolidated financial statements.
- Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial do
Source: Item 23 — RECEIPTS (FDD pages 106–366)
What This Means (2024 FDD)
According to Auntie Annes' 2024 Franchise Disclosure Document, the net value of property, equipment, leasehold improvements, and land was $59,734 as of December 25, 2022. This figure represents the total value of these assets after accounting for accumulated depreciation and amortization. These assets are crucial for Auntie Annes' operations, encompassing buildings, furniture, fixtures, computer systems, leasehold improvements, and land.
For a prospective franchisee, this number provides insight into the tangible assets Auntie Annes owns and utilizes in its business operations. It reflects the investment Auntie Annes has made in its infrastructure and resources. Understanding the composition and net value of these assets can help a franchisee assess the financial health and stability of the company.
It's important to note that depreciation and amortization, which reduce the initial value of these assets over time, are factored into the net value. This accounting practice reflects the wear and tear or obsolescence of these assets. Reviewing these figures in conjunction with other financial statement items can provide a more comprehensive understanding of Auntie Annes' financial position.