What is the auditor's opinion regarding the presentation of Best Brains Inc.'s financial statements?
Best_Brains Franchise · 2025 FDDAnswer from 2025 FDD Document
ACCUTAX BIZSOLUTIONS LLC
Address: 1001 S. MAIN ST. STE 600 KALISPELL, MT 59901 Phone: (646) 543-5898
INDEPENDENT AUDITOR'S REPORT
To, The Board of Directors, Best Brains Inc. 135 East Algonquin Rd Arlington Heights, IL
Report on Financial Statements
We have audited the financial statements of Best Brains Inc., which comprise the balance sheet as of December 31, 2024, and 2023, and the related statements of operations, statement of stockholders' equity, and cash flows for the year then ended, and the related notes to the financial statements.
In our opinion, the financial statement referred to above present fairly, in all material respects, the financial position of Best Brains Inc., as of December 31, 2024, and 2023 and the results of its operations and its cash flows for the year then ended in accordance with accounting principles generally accepted in the United States of America.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 42)
What This Means (2025 FDD)
According to Best Brains' 2025 Franchise Disclosure Document, the independent auditor, Accutax Bizsolutions LLC, has issued an opinion on the financial statements of Best Brains Inc. The audit covered the balance sheets as of December 31, 2024, and 2023, along with the related statements of operations, stockholders' equity, and cash flows for the years then ended, including the related notes to the financial statements.
The auditor's opinion is that the financial statements present fairly, in all material respects, the financial position of Best Brains Inc. as of December 31, 2024, and 2023. The opinion also extends to the results of its operations and its cash flows for the years then ended. This assessment is based on accounting principles generally accepted in the United States of America.
This "fairly presents" opinion suggests that the auditor believes Best Brains' financial statements are reliable and comply with standard accounting practices. A prospective franchisee can take some comfort in knowing that an independent firm has reviewed the financials and found them to be reasonably accurate. However, it is important to remember that an audit provides reasonable, but not absolute, assurance, and the auditor's opinion is based on their judgment and testing procedures.