What were Bumper Man's accrued expenses as of December 31, 2022?
Bumper_Man Franchise · 2025 FDDAnswer from 2025 FDD Document
g principles requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates.
Bad Debts
The Company uses the reserve for bad debt method of valuing doubtful accounts receivable which is based on historical experience, coupled with a review of the current status of existing receivables. The balance of the reserve for do
Source: Item 23 — RECEIPTS (FDD pages 45–180)
What This Means (2025 FDD)
Based on the 2025 Franchise Disclosure Document, the financial statements for Bumper Man, Inc. include a balance sheet, but the provided excerpts do not contain a specific line item for "accrued expenses." However, the balance sheet does include information about the company's assets. The excerpts do provide information on the reserve for bad debts, which was $120,787 as of December 31, 2022.
Without a specific figure for accrued expenses, it's difficult to assess Bumper Man's short-term liabilities and overall financial health. Accrued expenses represent obligations that the company has incurred but not yet paid, such as salaries, utilities, or interest. These are distinct from long-term liabilities or equity.
A prospective Bumper Man franchisee should request a full copy of the audited financial statements, including the complete balance sheets, income statements, and cash flow statements, to fully understand the company's financial position. They should specifically look for the line item of accrued expenses to assess the company's short-term liabilities. It would also be prudent to consult with a financial advisor to review and interpret these statements.