What is the fiscal year end date for Beard Papas?
Beard_Papas Franchise · 2025 FDDAnswer from 2025 FDD Document
| Estimate Life | 2023 | 2022 | ||
|---|---|---|---|---|
| Intangible assets: | ||||
| Website and software | 5-7 years | $ | 16,919 | $ 16,919 |
| Trademark | 7-10 years | 30,026 | 30,026 | |
| Total intangible assets | 46,945 | 46,945 | ||
| Less: accumulated amortization | (45,643) | (41,467) | ||
| Intangible assets, net | $ | 1,302 | $ 5,478 |
Amortization expense for the years ended December 31, 2023 and 2022 were approximately $4,000 and $6,000, respectively.
(A Wholly-Owned Subsidia
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 57)
What This Means (2025 FDD)
According to the 2025 Beard Papas Franchise Disclosure Document, several references are made to the company's financial reporting. Specifically, the document mentions amortization and rent expenses for the years ended December 31, 2023, and December 31, 2022, as well as cash and cash equivalents balances as of December 31, 2024 and 2023.
These references indicate that Beard Papas uses December 31 as the end date for its fiscal year. This is a common practice for many businesses, as it aligns with the calendar year.
For a prospective franchisee, understanding the franchisor's fiscal year-end is important for several reasons. It helps in interpreting the financial statements provided in the FDD, understanding the timing of financial reporting requirements, and aligning their own accounting practices with those of the franchisor. Knowing the fiscal year-end allows franchisees to accurately compare year-over-year performance and plan for tax and financial obligations accordingly.