What is the fiscal year end for Care Plus Medical Ucc?
Care_Plus_Medical_Ucc Franchise · 2024 FDDAnswer from 2024 FDD Document
| We have not been in business for three years or more, and therefore cannot include | |
|---|---|
| all financial statements required by the Franchise Rule of the Federal Trade Commission. | |
| Exhibit D contains our audited opening balance sheet dated December 31, 2023. Our fiscal year | |
| end is December 31. |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 41)
What This Means (2024 FDD)
According to Care Plus Medical Ucc's 2024 Franchise Disclosure Document, the company's fiscal year ends on December 31. This is explicitly stated in Item 21, which discusses the company's financial statements. The document includes an audited opening balance sheet dated December 31, 2023.
For a prospective franchisee, understanding the franchisor's fiscal year-end is important for several reasons. It provides a benchmark for analyzing the financial data presented in the FDD, as all financial statements will be aligned to this period. This allows franchisees to assess the financial health and performance of Care Plus Medical Ucc accurately.
Furthermore, the fiscal year-end is relevant for tax planning and financial reporting. Franchisees can align their own accounting practices with Care Plus Medical Ucc's fiscal year to streamline financial management and reporting processes. Knowing that the fiscal year ends on December 31 helps in anticipating when annual financial reports and related updates will be available from the franchisor.
Given that Care Plus Medical Ucc has not been in business for three years or more, the FDD does not include all financial statements typically required by the FTC. However, the inclusion of the audited opening balance sheet and the stated fiscal year-end provide some financial transparency for potential franchisees.