Until what date were subsequent events evaluated by Aw for the financial statements?
Aw Franchise · 2025 FDDAnswer from 2025 FDD Document
[Item 21: FINANCIAL STATEMENTS]
7. SUBSEQUENT EVENTS
The Company evaluates events that have occurred after the balance sheet date but before the financial statements are issued. Based upon the evaluation, the Company did not identify any recognized or nonrecognized subsequent events that would have required further adjustment or disclosure in the financial statements. Subsequent events were evaluated though April 10, 2025, the time at which the financial statements were available to be issued.
RAYYAN PIZZA FRANCHISE LLC FINANCIAL STATEMENTS DECEMBER 31, 2023
RAYYAN PIZZA FRANCHISE LLC TABLE OF CONTENTS
[Item 21: FINANCIAL STATEMENTS]
7. SUBSEQUENT EVENTS
The Company evaluates events that have occurred after the balance sheet date but before the financial statements are issued. Based upon the evaluation, the Company did not identify any recognized or nonrecognized subsequent events that would have required further adjustment or disclosure in the financial statements. Subsequent events were evaluated though June 6, 2024, the time at which the financial statements were available to be issued.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 39)
What This Means (2025 FDD)
According to Aw's 2025 Franchise Disclosure Document, the company evaluated subsequent events through April 10, 2025, for one set of financial statements. For another set of financial statements, subsequent events were evaluated through June 6, 2024. These dates represent the period up to which Aw assessed events occurring after the balance sheet date but before the financial statements were issued, to determine if any adjustments or disclosures were needed.
For a prospective franchisee, this means that the financial statements provided in the FDD reflect information available up to those specific dates. Any significant events impacting Aw's financial position after April 10, 2025, or June 6, 2024, may not be reflected in these statements. It is important to note that financial statements only provide a snapshot in time, and the evaluation of subsequent events helps ensure the accuracy and completeness of that picture.
This practice is standard in financial reporting, as it ensures that all relevant information available at the time of issuance is considered. Franchisees should be aware of these dates and inquire about any material changes or updates that may have occurred since then to gain a more current understanding of Aw's financial health. Reviewing these dates helps a potential franchisee understand the timeline and reliability of the financial information presented.