What were the total current assets for Buona in 2022?
Buona Franchise · 2025 FDDAnswer from 2025 FDD Document
ed during the audit.
Adoption of New Accounting Principle
As more fully described in Note 10 to the financial statements, as of January 2, 2023, the Company adopted a new accounting principle that prescribes the recognition, measurement, presentation, and disclosure requirements related to the allowance for credit losses.
R.J. Augustine & Associates, Ltd.
CERTIFIED PUBLIC ACCOUNTANTS
April 19, 2024
CHICAGO'S ORIGINAL ITALIAN BEEF FRANCHISING LLC DECEMBER 31, 2023 AND JANUARY 1,
Source: Item 22 — CONTRACTS (FDD page 78)
What This Means (2025 FDD)
According to Buona's 2025 Franchise Disclosure Document, the company's total current assets in 2022 were $110,818. This figure represents the sum of cash and prepaid insurance.
Understanding a company's assets is crucial for potential franchisees. Current assets are those that can be converted into cash within a year, indicating the company's short-term financial health and liquidity. A higher value of current assets suggests that Buona has sufficient resources to cover its immediate liabilities and operational expenses.
Prospective franchisees should consider these figures in the context of Buona's overall financial performance and compare them to previous years to identify trends. It's also advisable to compare these figures with those of other franchises in the same industry to benchmark Buona's financial position. Reviewing the complete financial statements and seeking professional financial advice is recommended to fully assess the financial stability of Buona.