Where in the Buona FDD can I find the Statements of Changes in Members' Equity (Deficit)?
Buona Franchise · 2025 FDDAnswer from 2025 FDD Document
| INDEPENDENT AUDITORS' REPORT | 1 |
|---|---|
| FINANCIAL STATEMENTS: | |
| Balance Sheets | 3 |
| Statements of Operations | 4 |
| Statements of Changes in Members' Equity (Deficit) | 5 |
| Statements of Cash Flows | 6 |
| Notes to the Financial Statements | 7 |
Source: Item 22 — CONTRACTS (FDD page 78)
What This Means (2025 FDD)
According to the 2025 Buona FDD, the Statements of Changes in Members' Equity (Deficit) can be found within the financial statements detailed in Item 22, which lists the contracts associated with the franchise. Specifically, the table of contents for the financial statements indicates that this statement is located on page 5.
Item 22 includes the independent auditor's reports for the fiscal years ended December 29, 2024, and December 31, 2023. These reports cover the balance sheets, statements of operations, changes in members' equity (deficit), and cash flows, along with related notes. The auditor's opinion confirms that these financial statements present fairly the financial position, results of operations, and cash flows of Chicago's Original Italian Beef Franchising LLC (Buona) for the specified periods, in accordance with accounting principles generally accepted in the United States of America.
Prospective franchisees can use this information to locate and review the Statements of Changes in Members' Equity (Deficit) within the FDD. This statement provides insights into the changes in the equity or deficit of Buona over the reported periods, reflecting factors such as net income or loss, contributions from members, and distributions to members. Reviewing these statements can help potential franchisees understand the financial stability and performance of the franchise.