What is the fiscal year end for Chocolate Bash, according to the FDD?
Chocolate_Bash 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 financial statements from 12/31/2023, 12/31/2022 and 12/31/2021. Our fiscal year end is December 31.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 38)
What This Means (2024 FDD)
According to Chocolate Bash's 2024 Franchise Disclosure Document, the company's fiscal year ends on December 31. The FDD includes audited financial statements from December 31, 2023, December 31, 2022, and December 31, 2021. This information is relevant to prospective franchisees as it provides a consistent annual period for reviewing the company's financial performance.
The financial statements included in the FDD, such as the balance sheets, profit and loss statements, statements of cash flow, and statements of shareholders' equity, are all prepared based on this December 31 fiscal year-end. This standardization allows potential franchisees to easily compare Chocolate Bash's financial performance across multiple years and assess trends in revenue, expenses, and profitability.
Understanding the fiscal year-end is crucial for interpreting the financial data presented in Item 21 of the FDD. Franchisees can use this information to conduct their due diligence, evaluate the financial health of Chocolate Bash, and make informed decisions about investing in a franchise. Knowing that the financial data is consistently reported on a calendar year basis enhances the reliability and comparability of the information.