Are the Beard Papas financial statements presented on a calendar year basis?

According to Beard Papas's 2025 Franchise Disclosure Document, the company's financial statements are presented on a calendar year basis. This is evidenced by the notes to the financial statements, which reference specific dates. The financial statements included cover the years ending December 31, 2024, and December 31, 2023. This indicates that Beard Papas uses a calendar year for its financial reporting.

Using a calendar year for financial reporting is a common practice, as it aligns with the standard Gregorian calendar used in the United States. This makes it easier for franchisees and other stakeholders to compare Beard Papas's financial performance with other companies and industry benchmarks. The FDD also mentions that the company's accounting and reporting policies conform to accounting principles generally accepted in the United States of America (U.S. GAAP).

For a prospective franchisee, this means that the financial data provided in the FDD, such as revenue, expenses, assets, and liabilities, are reported for the period of January 1 to December 31 for each year presented. This consistency in reporting periods allows for a clear understanding of the company's financial performance over time. Additionally, the FDD notes that the company's cash and cash equivalent balances as of December 31, 2024, with FDIC member institutions exceeded the total amounts insured by FDIC's general deposit insurance rules by approximately $1,119,000, and as of December 31, 2023, exceeded the total amounts insured by approximately $945,000.

It is important for potential franchisees to review these financial statements carefully and understand the implications of the company's financial performance. Consulting with a financial advisor or accountant is advisable to fully assess the financial health of Beard Papas and make informed decisions about investing in a franchise.