For Aw, what statements of Rayyan Pizza Franchise LLC, besides the balance sheets, were audited?
Aw Franchise · 2025 FDDAnswer from 2025 FDD Document
We have audited the financial statements of Rayyan Pizza Franchise LLC which comprises the balance sheets as of December 31, 2024 and 2023, the related statements of operations, changes in members' equity, and cash flows for the years then ended, and the related notes to the financial statements.
In our opinion, the accompanying financial statements referred to above present fairly, in all material respects, the financial position of Rayyan Pizza Franchise LLC as of December 31, 2024 and 2023, and the results of its operations and its cash flows for the years then ended, in accordance with accounting principles generally accepted in the United States of America.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 39)
What This Means (2025 FDD)
According to Aw's 2025 Franchise Disclosure Document, the financial statements of Rayyan Pizza Franchise LLC were audited by Muhammad Zubairy, CPA PC. Besides the balance sheets, the audited financial statements include the statements of operations, changes in members' equity, and cash flows for the years then ended, as well as the related notes to the financial statements.
The purpose of the audit is to provide an opinion on whether the financial statements present fairly the financial position, results of operations, and cash flows of Aw in accordance with accounting principles generally accepted in the United States of America. The auditor's report expresses an opinion on the fairness of the presentation of these financial statements.
As part of the audit, the auditor evaluates the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management. They also obtain an understanding of internal control relevant to the audit, though they do not express an opinion on the effectiveness of Aw's internal control.
Prospective franchisees should review these audited financial statements and the accompanying notes carefully to understand Aw's financial performance and position. Understanding the statements of operations, changes in equity, and cash flows, in addition to the balance sheets, provides a more complete picture of the company's financial health.