Are the Beehive Homes financial statements prepared according to GAAP?
Beehive_Homes Franchise · 2025 FDDAnswer from 2025 FDD Document
nancial statements.
In our opinion, the accompanying financial statements present fairly, in all material respects, the financial position of Bee Hive Homes, Inc. as of December 31, 2024, 2023, and 2022, and the results of its operations and its cash flows for the years then ended in accordance with accounting principles generally accepted in the United States of America.
Basis for Opinion
We conducted our audits in accordance with auditing standards generally accepted in the United States of America (GAAS). Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of Bee Hive Homes, Inc.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 34)
What This Means (2025 FDD)
According to Beehive Homes' 2025 Franchise Disclosure Document, the financial statements of Bee Hive Homes, Inc. are prepared in accordance with accounting principles generally accepted in the United States of America. This is confirmed by the independent auditor's report included in the FDD.
The auditor's opinion states that the financial statements present fairly the financial position of Bee Hive Homes, Inc. as of December 31, 2024, 2023, and 2022, and the results of its operations and its cash flows for the years then ended, in accordance with accounting principles generally accepted in the United States of America.
Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America. The auditor's responsibility is to express an opinion on these financial statements based on their audit, conducted in accordance with auditing standards generally accepted in the United States of America (GAAS). This indicates that Beehive Homes adheres to standard accounting practices, providing a level of assurance to potential franchisees regarding the reliability of the financial information presented.