What accounting standards does Bumble Roofing follow in preparing its consolidated financial statements?

According to Bumble Roofing's 2025 Franchise Disclosure Document, the company adheres to accounting standards established by the Financial Accounting Standards Board (FASB). These standards are generally accepted in the United States of America, also known as GAAP. This means that Bumble Roofing's financial statements are prepared following a consistent and widely recognized set of rules and guidelines.

For a prospective Bumble Roofing franchisee, this indicates that the financial information presented in the FDD is prepared using a standardized approach, making it easier to compare Bumble Roofing's financial performance with other franchise systems or investment opportunities. It also suggests that the company's financial reporting is subject to scrutiny and oversight, as GAAP compliance is often a benchmark for financial integrity.

Additionally, the FDD mentions the adoption of new accounting policies, specifically Accounting Standards Update 2016-02, Leases (Topic 842) and Accounting Standards Update 2013-03, Financial Instruments – Credit Losses. These updates reflect changes in accounting practices related to lease recognition and credit loss measurement, respectively. The adoption of these standards ensures that Bumble Roofing's financial statements are up-to-date with current accounting regulations.

It is important for potential franchisees to review the financial statements and related notes carefully, possibly with the assistance of a financial advisor, to fully understand the implications of these accounting policies on Bumble Roofing's reported financial performance and position.