Up to 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, the company's 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 assessed whether any events occurring after the balance sheet date would significantly impact the amounts or disclosures in the financial statements. They determined that no such events occurred that would necessitate adjustments or additional disclosures.
This evaluation is a standard accounting practice to ensure that financial statements reflect the most up-to-date information available. Prospective franchisees should be aware that the financial statements only reflect information available up to this date, and any material events occurring after February 8, 2024, may not be reflected in these statements.