What accounting standard does Bang Cookies use to prepare its financial statements?

According to Bang Cookies' 2024 Franchise Disclosure Document, the company prepares its financial statements in conformity with accounting principles generally accepted in the United States of America, which is referred to as "GAAP".

This means that Bang Cookies adheres to a standardized set of guidelines and practices when creating its financial reports. GAAP ensures that the financial statements are presented fairly and consistently, allowing for meaningful comparisons across different companies and industries. This is a common practice among franchisors, as it provides a level of transparency and reliability in their financial reporting.

For a prospective franchisee, this indicates that Bang Cookies' financial information is prepared using a recognized and respected accounting framework. This can be beneficial for franchisees when they are reviewing the franchisor's financial statements as part of their due diligence process. Understanding that the financials are GAAP-compliant can provide a degree of confidence in the accuracy and reliability of the information presented.