Through what date has Bang Cookies management evaluated subsequent events?
Bang_Cookies Franchise · 2024 FDDAnswer from 2024 FDD Document
Management has evaluated subsequent events through April 29, 2024 which is the date the financial statements were available to be issued. The Company did not have any material recognizable subsequent events that would require adjustment to, or disclosure in, the financial statements.
Source: Item 23 — RECEIPTS (FDD pages 56–245)
What This Means (2024 FDD)
According to Bang Cookies's 2024 Franchise Disclosure Document, the company's management evaluated subsequent events through April 29, 2024. This date represents the point up to which Bang Cookies assessed events that occurred after the balance sheet date but before the financial statements were available to be issued.
This evaluation is a standard accounting practice to ensure that the financial statements accurately reflect the company's financial condition. Subsequent events can include things like a major lawsuit, a significant acquisition, or a large loss of customers.
The disclosure indicates that Bang Cookies did not identify any material subsequent events that would require adjustments or additional disclosures in their financial statements. This means that, as of April 29, 2024, there were no known events that would significantly impact a franchisee's understanding of Bang Cookies's financial health.