What were the total assets reported for Best Brains 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 substantial doubt about Best Brains Inc's ability to continue as a going concern for a reasonable period of time
We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control–related matters that we identified during the audit.
Accutax Bizsolutions LLC Certified Public Accountant
Kalispell, Montana
Date: May 7, 2025
BALANCE SHEET December 31, 2024, and 2023
ASSETS
| | December 31,
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 42)
What This Means (2025 FDD)
According to Best Brains' 2025 Franchise Disclosure Document, the company's total assets as of December 31, 2023, were $4,336,162. This figure represents the sum of Best Brains' current assets, fixed assets, and intangible assets at that time.
Specifically, the current assets included cash and cash equivalents, amounts due from related affiliates, accounts receivable, advances, inventory, loan receivables, and other current assets. The fixed assets included building and equipment, furniture and fixtures, and vehicles, less accumulated depreciation. The intangible assets consisted of software development, less accumulated amortization.
For a prospective Best Brains franchisee, this figure provides a snapshot of the company's financial health and resources at the end of 2023. Reviewing the trend in total assets over several years, as presented in the FDD, can give a better understanding of the company's growth and stability. It is important to note that past financial performance is not necessarily indicative of future results, but it can offer valuable insights for making an informed investment decision.