Through what date has Best Western evaluated its subsequent events in preparation of the consolidated financial statements?
Best_Western Franchise · 2025 FDDAnswer from 2025 FDD Document
In connection with the preparation of the consolidated financial statements, the Company evaluated events and transactions occurring after November 30, 2023, for potential recognition or disclosure. The Company has evaluated its subsequent events through February 23, 2024, the date financial statements were available to be issued.
Source: Item 23 — Receipts (FDD pages 108–413)
What This Means (2025 FDD)
According to Best Western's 2025 Franchise Disclosure Document, the company evaluated events and transactions occurring after November 30, 2023, in preparation of the consolidated financial statements. Best Western evaluated these subsequent events through February 23, 2024, which was the date the financial statements were available to be issued.
This evaluation of subsequent events is a standard accounting practice to ensure that the financial statements reflect the most current and accurate information available. It helps to identify any events that could materially affect the company's financial position or results of operations.
For a prospective Best Western franchisee, this means that the financial statements included in the FDD have been updated to include information available up to February 23, 2024. This provides a more complete picture of the company's financial health and any significant events that may have occurred since the end of the fiscal year on November 30, 2023. This is important for making an informed investment decision.