Do the Bb.Q Chicken financial statements include a balance sheet?
Bb_Q_Chicken Franchise · 2025 FDDAnswer from 2025 FDD Document
,544) | (752,209) | (190,372) | (49,074) | (1,485,199) | | Total Property and Equipment | 765,395 | 1,398,214 | 599,280 | 305,081 | 3,067,970 |
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Independent Auditors' Report
To the Board of Director and Stockholders of BBDOTQ USA, Inc.:
Report on the Financial Statements
We have audited the accompanying consolidated financial statements of BBDOTQ USA, Inc and its subsidiaries (the 'Company") which comprise the balance sheet as of December 31, 2023 and 2022, and the related statements loss and retained deficit and cash flows for the years then ended and the related notes to the financial statements.
Management's Responsibility for the Financial Statements
Management is responsible for the preparation and the fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America: this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.
Auditor's Responsibility
Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatements.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 62)
What This Means (2025 FDD)
Yes, the 2025 Bb.Q Chicken FDD includes balance sheets in its financial statements. Specifically, the Independent Auditors' Report refers to consolidated financial statements that comprise the balance sheet as of December 31, 2023 and 2022. Additionally, there is a balance sheet as of February 28, 2025, although it is noted that these financial statements were prepared without an audit.
The inclusion of a balance sheet is a standard practice in financial reporting, as it provides a snapshot of a company's assets, liabilities, and equity at a specific point in time. This allows prospective franchisees to assess the financial health and stability of Bb.Q Chicken. The balance sheets for 2023 and 2022 were audited, providing a higher level of assurance regarding their accuracy, while the balance sheet as of February 28, 2025, was unaudited.
It is important for potential Bb.Q Chicken franchisees to carefully review these balance sheets, paying close attention to key financial ratios and trends. Analyzing the balance sheets in conjunction with the other financial statements, such as the income statement and statement of cash flows, will provide a more comprehensive understanding of the company's financial performance. Given that the February 2025 balance sheet is unaudited, franchisees may want to seek additional clarification or perform their own due diligence to verify the accuracy of the information.