Is there a specific date that triggers the start of the 'Accounting Period' for a Casiola franchise?
Casiola Franchise · 2024 FDDAnswer from 2024 FDD Document
ood Dr STE 100, Bedford, Texas 76022
Cell: 214-200-5434 (Mohamed Metwally) Mmetwally@metwallycpa.com
Independent Auditor's Report
To the Members of Casiola Franchise, LLC Orlando, Florida
Opinion
We have audited the accompanying financial statements of Casiola Franchise, LLC (the "Company"), which comprise the balance sheet as of December 31, 2023 and the related statements of operations, members' equity (deficit), and cash flows for the period from January 6, 2023 to December 31, 2023 and the related notes to the financial statements.
In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Casiola Franchise, LLC as of December 31, 2023 and the results of its operations and its cash flows for the period from January 6, 2023 to December 31, 2023 in accordance with accounting principles generally accepted in the United States of America.
Source: Item 23 — RECEIPTS (FDD pages 47–209)
What This Means (2024 FDD)
According to Casiola's 2024 Franchise Disclosure Document, Casiola Franchise, LLC's financial statements cover the period from January 6, 2023, to December 31, 2023. This period is explicitly mentioned in the Independent Auditor's Report, which details the scope of the audit conducted by Metwally CPA PLLC. The auditor's opinion covers the balance sheet as of December 31, 2023, and the statements of operations, members' equity (deficit), and cash flows for the specified period.
This means that Casiola's accounting practices track financial activities from January 6, 2023, which is the company's formation date, through the end of the calendar year. For prospective franchisees, this establishes a clear timeframe for evaluating the company's financial performance during its initial year of offering franchise opportunities. The FDD includes these financial statements to give potential franchisees insight into the financial health and operational results of Casiola during this period.
It is important to note that the financial data presented covers less than a full year of operations, as Casiola Franchise, LLC was formed on January 6, 2023. Therefore, when reviewing these statements, prospective franchisees should consider that the figures represent a partial year. The advertising costs for this partial year, from January 6, 2023, to December 31, 2023, amounted to $6,329, and these costs were expensed as incurred.