Up to what date did Carls evaluate subsequent events for their Consolidated Financial Statements?

According to Carls's 2024 Franchise Disclosure Document, the company evaluated subsequent events through April 4, 2023, which was the date their Consolidated Financial Statements were available to be issued. Carls concluded that no additional subsequent events required disclosure in these financial statements.

This evaluation of subsequent events is a standard accounting practice. It ensures that the financial statements reflect any significant events that occurred after the balance sheet date (January 29, 2024) but before the statements were issued. These events could materially impact the company's financial position or performance, and therefore need to be considered for disclosure.

For a prospective Carls franchisee, this means that the financial statements provided in the FDD have been reviewed for any significant events that occurred up to April 4, 2023. This provides a level of assurance that the financial information is reasonably complete and accurate as of that date. However, it is important to remember that the financial statements only reflect information available up to that point, and any events occurring after April 4, 2023, would not be included.