What years do the audited financial statements cover in the opinion for Caring Transitions?
Caring_Transitions Franchise · 2025 FDDAnswer from 2025 FDD Document
We have audited the accompanying financial statements of C. T. Franchising Systems, Inc. (an Ohio corporation), which comprise the balance sheets as of December 31, 2024, 2023, and 2022, and the related statements of operations and retained earnings, and cash flows for the years then ended and the related notes to the financial statements.
In our opinion, the 2024, 2023, and 2022 financial statements referred to above present fairly, in all material respects, the financial position of C. T. Franchising Systems, Inc. as of December 31, 2024, 2023, and 2022, and the results of its operations and its 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 49)
What This Means (2025 FDD)
According to Caring Transitions' 2025 Franchise Disclosure Document, the audited financial statements included in the document cover the fiscal years 2022, 2023, and 2024. The independent auditor's report expresses an opinion on the fairness of the company's balance sheets as of December 31 for each of these years, as well as the related statements of operations, retained earnings, and cash flows for the years then ended.
This means that a prospective Caring Transitions franchisee can review these financial statements to understand the company's financial performance over the past three years. Examining these statements can provide insights into the company's revenue, expenses, assets, liabilities, and cash flow trends. This historical data can be valuable in assessing the financial stability and overall health of the franchisor.
It is important for potential franchisees to carefully analyze these audited financial statements and consult with a financial advisor to fully understand the implications. While the auditor's opinion indicates that the statements are presented fairly in accordance with accounting principles, franchisees should conduct their own due diligence to determine if the Caring Transitions franchise opportunity aligns with their financial goals and risk tolerance.