Does the Browns Chicken financial report include notes to the financial statements?
Browns_Chicken Franchise · 2025 FDDAnswer from 2025 FDD Document
| 25 | Projected Company Owned Stores Opening Through Dec. 31, 2025 | ||
|---|---|---|---|
| Illinois | 1 | 0 | 0 |
| Indiana | 0 | 0 | 0 |
| Totals | 0 | 0 | 0 |
INDEPENDENT AUDITORS' REPORT
To Management Brown's Chicken, LLC Villa Park, Illinois
Opinion
We have audited the accompanying financial statements of Brown's Chicken, LLC which comprise the consolidated balance sheets as of December 31, 2024 and 2023, and the related consolidated statements of operations, changes in members' equity, and cash flows for the years then ended and the related note
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 42)
What This Means (2025 FDD)
According to the 2025 Browns Chicken Franchise Disclosure Document, the financial statements include accompanying notes. The Independent Auditors' Report states that the audit includes the consolidated balance sheets, statements of operations, changes in members' equity, and cash flows, along with the related notes to the financial statements. These notes are an integral part of the financial statements.
The inclusion of notes is a standard accounting practice. These notes provide additional details and explanations about the figures presented in the main financial statements, such as accounting policies, debt obligations, and potential risks. For Browns Chicken, these notes offer deeper insights into how the company's financials are structured and should be carefully reviewed by prospective franchisees.
Specifically, the Browns Chicken FDD includes notes on the description of the business, which details the company's organization and franchising activities. It also includes a summary of significant accounting policies, such as the use of estimates and principles of consolidation, which explain how the financial statements are prepared. There are also notes on income taxes and subsequent events, providing further clarity on the company's financial practices and any recent developments. Reviewing these notes will help a potential Browns Chicken franchisee understand the financial health and stability of the company.