Until what date did Bombs Away management evaluate subsequent events for 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. This is the date on which 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 is responsible for reviewing these events to determine if they have a material impact on the company's financial position or results of operations. If an event is deemed to have a material impact, it must be disclosed in the financial statements or the financial statements must be adjusted.
For a potential Bombs Away franchisee, this date indicates the latest point up to which the franchisor considered events that could affect the accuracy and completeness of the financial statements presented in the FDD. This provides some assurance that the financial information reflects the most current information available at the time of the FDD's issuance.