As of what date does the balance sheet audited in the opinion for Burros Fries Franchise, Inc. cover?
Burros_Fries Franchise · 2024 FDDAnswer from 2024 FDD Document
INDEPENDENT AUDITOR'S REPORT
To the Stockholders' of Burros & Fries Franchise, Inc. Bonita, California
Opinion
We have audited the financial statements of Burros & Fries Franchise, Inc. (an S Corporation), which comprise the balance sheet as of December 31, 2023, and the related statement of operations and retained earnings and of cash flows for the year then ended, and the related notes to the financial statements.
In our opinion, the accompanying financial statements referred to above present fairly, in all material respects, the financial position of Burros & Fries Franchise, Inc. as of December 31, 2023 and the results of its operations and cash flows for the years then ended in accordance with accounting principles generally accepted in the United States of America.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 53)
What This Means (2024 FDD)
According to Burros Fries's 2024 Franchise Disclosure Document, the balance sheet covered in the Independent Auditor's Report is as of December 31, 2023. The audit includes the financial statements of Burros & Fries Franchise, Inc., specifically the balance sheet, statement of operations and retained earnings, and cash flows for the year ending on that date. The auditor's opinion states that these financial statements accurately represent the financial position of Burros Fries as of December 31, 2023.
Prospective franchisees should note that the FDD includes audited financial statements for previous years as well. These statements provide a historical view of the company's financial performance.
It is important for potential franchisees to carefully review these audited financial statements and consult with a financial advisor to understand the financial health and stability of Burros Fries before making any investment decisions. Understanding the balance sheet and other financial statements is a crucial part of assessing the risks and opportunities associated with investing in a Burros Fries franchise.