For what fiscal years are Carbones Pizzeria's audited financial statements provided?
Carbones_Pizzeria Franchise · 2025 FDDAnswer from 2025 FDD Document
October 31, 2024:
| Beginning of the period | 36 |
|---|---|
| Change during the period | (2) |
| End of the period | 34 |
Additionally, the Company owned and operated one corporate location, Carbone's Pizzeria, during the year ended October 31, 2024.
2. Summary of Significant Accounting Policies
Fiscal Year
The Company's fiscal year is October 31.
Basis of Accounting and Consolidated Financial Statement Presentation
The Consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("US GAAP").
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 30)
What This Means (2025 FDD)
According to Carbones Pizzeria's 2025 Franchise Disclosure Document, the provided financial statements cover three fiscal years: October 31, 2022, October 31, 2023, and October 31, 2024. These statements offer a prospective franchisee insight into the financial performance of Carbones Pizzeria over the past three years.
The financial statements include notes that describe the accounting policies used. These policies cover areas such as consolidation, cash equivalents, revenue recognition, advertising, and income taxes. Understanding these policies is crucial for interpreting the financial statements accurately.
Specifically, the franchisor's fiscal year ends on October 31. The financial statements are prepared according to accounting principles generally accepted in the United States of America (US GAAP).