Does the Bang Cookies FDD include an income statement?
Bang_Cookies Franchise · 2024 FDDAnswer from 2024 FDD Document
Independent Auditor's Report
To the Members of Bang Cookies Franchise, LLC
Opinion
We have audited the accompanying financial statements of Bang Cookies Franchise, LLC (the Company), which comprise the balance sheet as of December 31, 2023 and the related statements of operations, members' equity, and cash flows for the period from January 19, 2023 to December 31, 2023 and the related notes to the financial statements.
In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Bang Cookies Franchise, LLC as of December 31, 2023 and the results of its operations and its cash flows for the period from January 19, 2023 to December 31, 2023, in accordance with accounting principles generally accepted in the United States of America.
Source: Item 21 — FINANCIAL STATEMENTS (FDD pages 55–56)
What This Means (2024 FDD)
Yes, the 2024 Bang Cookies FDD includes an income statement. According to the Independent Auditor's Report, the financial statements of Bang Cookies Franchise, LLC include the "related statements of operations" for the period from January 19, 2023, to December 31, 2023. A statement of operations is another name for an income statement.
The auditor's report indicates that the audit was conducted according to generally accepted auditing standards in the United States of America. The auditor's opinion is that the financial statements present fairly the financial position of Bang Cookies Franchise, LLC as of December 31, 2023, and the results of its operations and its cash flows for the specified period.
Prospective franchisees can review the income statement, along with the balance sheet, statement of cash flows, and notes to the financial statements, to gain an understanding of Bang Cookies' financial performance during its initial period of operations. This information can be used to assess the financial health and stability of the franchisor.