What was the accounting expense for Bevaris Alliance in 2023?
Bevaris_Alliance Franchise · 2024 FDDAnswer from 2024 FDD Document
| ASSETS | ||
|---|---|---|
| 2023 | 2022 | |
| CURRENT ASSETS: | ||
| Cash (Notes 2,12) | $ 259,204 | ¢ 256 474 |
| Accounts receivable | $ 256,474 | |
| 5,404 | 29,829 | |
| Prepaid expenses | 31,999 | |
| TOTAL CURRENT ASSETS | 296,607 | 286,303 |
| ORGANIZATION COSTS | 953 | 953 |
| INTELLECTUAL PROPERTY (NOTE 3) | 4,466 | 4,466 |
| SECURITY DEPOSIT | 3,714 | · |
| 5,714 | 1,360 | |
| DEFERRED FRANCHISE DEVELOPMENT | 52,517 | 67,172 |
| COSTS - NET (NOTE 4) | ||
| TOTAL ASSETS | $ 358,257 | $ 360,254 |
| LIABILITIES AND MEMBER' | S EQUITY | |
| CURRENT LIABILITIES: | ||
| Accounts payable | $ 29,075 | $ 25,463 |
| Credit card payable (Note 5) | 5,997 | 2,924 |
| Income taxes payable (Note 2) | 1,985 | |
| Insurance payable | 25,927 | 1,500 |
| System marketing reserve fund (Note 7) | • | 70 220 |
| Line of credit (Note 6) | · | 72,220 |
| , | 1,000 | 0.000 |
| Due to related party (Note 8) | 9,069 | 86,938 |
| TOTAL LIABILITIES | 245,395 | 189,530 |
| MEMBER'S EQUITY: | ||
| Member's equity | 112,862 | 1 |
Source: Item 23 — RECEIPT (FDD pages 22–88)
What This Means (2024 FDD)
According to Bevaris Alliance's 2024 Franchise Disclosure Document, the accounting expense for the company in 2023 was $19,737. This figure represents the cost incurred by Bevaris Alliance for accounting services during that year.
For a prospective franchisee, understanding the franchisor's expenses can provide insight into the financial management and overall health of the company. Accounting expenses are a normal part of doing business, and this figure can be used to benchmark against other similar franchise systems.
It's important to note that this is just one expense category, and a comprehensive review of the financial statements is necessary to fully assess Bevaris Alliance's financial performance. Reviewing expenses in previous years can also help identify trends and potential areas of concern or improvement.