What was the total amount of Best In Class Education Center's current liabilities in 2024?
Best_In_Class_Education_Center Franchise · 2025 FDDAnswer from 2025 FDD Document
| 2024 | - | 2023 | ||
|---|---|---|---|---|
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||||
| Current Liabilities | ||||
| Accounts payable and accrued liabilities | $ | 10,813 | $ | 6,878 |
| Due to related parties | 12,747 | |||
| Deferred revenue, current portion | 6,269 | |||
| Total Current Liabilities | - | 29,829 | · | 6,878 |
Source: Item 23 — RECEIPT (FDD pages 47–204)
What This Means (2025 FDD)
According to Best In Class Education Center's 2025 Franchise Disclosure Document, the company's total current liabilities in 2024 were $29,829. This figure represents the sum of accounts payable and accrued liabilities ($10,813), amounts due to related parties ($12,747), and the current portion of deferred revenue ($6,269). In comparison, the total current liabilities for 2023 were $6,878.
Current liabilities are obligations due within one year, so this increase could signal a greater reliance on short-term financing or increased operational expenses. A prospective franchisee should investigate the reasons behind this increase to assess the financial health and stability of Best In Class Education Center.
Understanding the composition and trend of current liabilities is crucial for potential franchisees. It provides insights into the company's short-term financial obligations and its ability to meet them. Monitoring these liabilities helps in evaluating the overall financial risk associated with investing in a Best In Class Education Center franchise.