What was the net income for Burros Fries according to the financial statement?
Burros_Fries Franchise · 2024 FDDAnswer from 2024 FDD Document
The accompanying financial statements of Burros &Fries Franchise Inc as of and for the period ended October 31, 2024, were not subjected to an audit, review, or compilation engagement by us and we do not express an opinion, a conclusion, nor provide any assurance on them.
Management has elected to omit ALL of the disclosures ordinarily included in financial statements prepared in accordance with the income tax basis of accounting. If the omitted disclosures were included in the financial statements, they might influence the user's conclusions about the company's assets, liabilities, equity, revenue, and expenses. Accordingly, the financial statements are not designed for those who are not informed about such matters.
The accompanying financial statements are intended For Management Use Only.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 53)
What This Means (2024 FDD)
According to the 2024 FDD, the financial statements for Burros & Fries Franchise Inc. as of October 31, 2024, were not subjected to an audit, review, or compilation. Therefore, One Plus Tax and Accounting Inc. does not express an opinion, a conclusion, nor provide any assurance on them.
Management elected to omit all of the disclosures ordinarily included in financial statements prepared in accordance with the income tax basis of accounting. If the omitted disclosures were included in the financial statements, they might influence the user's conclusions about the company's assets, liabilities, equity, revenue, and expenses.
As a result, the financial statements are intended for management use only. This means that the FDD does not provide a definitive net income figure for Burros Fries, and prospective franchisees should be aware that the available financial statements have limitations and are not designed for external users who are not informed about such matters.