What were the accounts payable for Best Brains as of December 31, 2022?
Best_Brains Franchise · 2025 FDDAnswer from 2025 FDD Document
rporation has temporary differences that are immaterial. Thus, the corporation determines it is impractical to recognize such in the financial statements.
3. CONCENTRATION OF RISKS
Cash Concentration
Financial instruments that potentially subject the corporation to concentrations of credit risk consist principally of deposits gre
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 42)
What This Means (2025 FDD)
Based on the 2025 Franchise Disclosure Document, the exact figure for Best Brains' accounts payable as of December 31, 2022, is not explicitly provided. However, the document does include audited financial statements for the fiscal years ending December 31, 2024, 2023, and 2022. These statements would typically contain a balance sheet detailing the company's assets, liabilities, and equity, including accounts payable.
While the specific number is absent, the FDD contains related-party payables as of December 31, 2023. These include payables to Advansoft India ($865,500.00), Advansoft International Inc. ($414,324.00), Best Brains India ($2,158,355.00), and Best Brains-Canada ($50,000). Reviewing these related-party transactions can provide insight into the types of financial obligations Best Brains typically carries.
To obtain the specific accounts payable figure for December 31, 2022, a prospective franchisee should carefully review the complete audited financial statements in Exhibit H of the FDD. If the information is not present, it is advisable to directly ask Best Brains for this information to gain a clearer understanding of their financial obligations at that time. Understanding the trend in accounts payable can help a franchisee assess the financial health and stability of Best Brains.