For Casiola, when does the fiscal year end?
Casiola Franchise · 2024 FDDAnswer from 2024 FDD Document
Metwally CPA PLLC consents to the use in the Franchise Disclosure Document issued by Casiola Franchise, LLC ("Franchisor") on April 25, 2024, as it may be amended, of our report dated March 18, 2024, relating to the financial statements of Franchisor for the year ending December 31, 2023.
Source: Item 21 — FINANCIAL STATEMENTS (FDD pages 46–47)
What This Means (2024 FDD)
According to Casiola's 2024 Franchise Disclosure Document, the company's fiscal year ends on December 31. This is explicitly stated in the notes to the financial statements included in the FDD. Specifically, the CPA's consent mentions their report relates to the financial statements of Casiola for the year ending December 31, 2023. This date is also referenced when detailing the company's cash balance and related party transactions.
For a prospective franchisee, this means that Casiola's financial performance, which is detailed in the financial statements, is measured on a calendar year basis. Understanding the fiscal year-end is important for interpreting the financial data provided in the FDD, as it sets the period for which revenues, expenses, and profits are reported. Franchisees can use this information to benchmark their own performance against the franchisor's and to understand seasonal trends in the business.
Most businesses, including franchises, typically operate on a 12-month fiscal year, although the specific end date can vary. The fact that Casiola uses a calendar year-end (December 31) is a fairly common practice, simplifying comparisons with other businesses and industry data that often follow the same annual cycle. This also aligns with standard accounting and tax reporting practices.