For what years are the statements of cash flows included in Buona's financial statements?
Buona Franchise · 2025 FDDAnswer from 2025 FDD Document
The Company's financial instruments are cash and cash equivalents, accounts receivable, accounts payable, and accrued expenses. The recorded value of cash and cash equivalents, accounts receivable, accounts payable, and accrued expenses approximate their fair values based on their short-term nature.
The Company may be party to legal proceedings and claims that arise in the ordinary course of business. In the opinion of management, the ultimate outcome of the claims and litigation, if any, will not have a material adverse effect on the Company's financial position as of December 31, 2023 and January 1, 2023.
Certain reclassifications have been made to prior year's financial statements in order to conform to the current year presentation. These reclassifications had no effect on previously reported results of operations or equity.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 78)
What This Means (2025 FDD)
According to Buona's 2025 Franchise Disclosure Document, the company's financial instruments include cash and cash equivalents, accounts receivable, accounts payable, and accrued expenses. The FDD states that the recorded value of these instruments approximates their fair values based on their short-term nature.
Regarding legal proceedings and claims, Buona's management believes that the ultimate outcome of any claims or litigation will not have a materially adverse effect on the company's financial position as of December 31, 2023, and January 1, 2023. This statement provides some insight into the years considered for financial positions.
Additionally, the FDD mentions that certain reclassifications have been made to prior years' financial statements to conform to the current year's presentation. These reclassifications did not affect previously reported results of operations or equity. While this indicates that financial statements from prior years are being referenced and adjusted, it does not specify which years are included in the statements of cash flows.