What was the total amount of Best Brains' 'Advances' as of December 31, 2023?
Best_Brains Franchise · 2025 FDDAnswer from 2025 FDD Document
tances, but not for the purpose of expressing an opinion on the effectiveness of Best Brains Inc's internal control. Accordingly, no such opinion is expressed.
- Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements.
- Conclude whether, in our judgment, there are conditions or events considered in the aggregate that raise subst
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 42)
What This Means (2025 FDD)
According to Best Brains' 2025 Franchise Disclosure Document, the total amount of 'Advances' as of December 31, 2023, was $140,891. This figure is listed as part of the current assets in the balance sheet.
'Advances' typically represent payments made for goods or services that have not yet been received or fully performed. For a Best Brains franchisee, this could include prepayments to suppliers for educational materials or services. It is important to note that the 'Advances' amount remained the same at $140,891 as of December 31, 2024, suggesting that these advances were either fully utilized or remained outstanding during that period.
Prospective franchisees should understand the nature of these 'Advances' and how they are utilized within the Best Brains business model. Understanding the terms and conditions related to these advances, such as refund policies or expiration dates, is crucial for managing their own center's finances effectively. It's also worth comparing these figures with previous years, if available, to identify any trends or changes in Best Brains' financial practices.