What is the latest date Bombs Away management considered for subsequent events when preparing the financial statements?
Bombs_Away Franchise · 2024 FDDAnswer from 2024 FDD Document
Management has evaluated subsequent events through February 8, 2024, the date on which the financial statements were available to be issued. Management has determined that none of the events occurring after the date of the balance sheet through the date of Management's review substantially affect the amounts and disclosure of the accompanying financial statements.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 35)
What This Means (2024 FDD)
According to Bombs Away's 2024 Franchise Disclosure Document, management evaluated subsequent events through February 8, 2024, which was the date the financial statements were available to be issued. Subsequent events are events that occur after the balance sheet date but before the financial statements are issued.
Bombs Away's management assessed whether any events occurring after the balance sheet date (December 31, 2023) and up to February 8, 2024, would significantly impact the amounts or disclosures in the financial statements. They determined that no such events required adjustments or additional disclosures.
This evaluation is a standard accounting practice to ensure that financial statements reflect the most current information available to investors and stakeholders. By reviewing subsequent events, Bombs Away aims to provide a more accurate and complete picture of its financial position and performance.