What does the opinion state about the fairness of the Chocolate Bash financial statements' presentation?
Chocolate_Bash Franchise · 2024 FDDAnswer from 2024 FDD Document
We have audited the financial statements of CHOCOLATE BASH FRANCHISING LLC (the "Company"), which comprise the Balance Sheet as of December 31, 2023 & December 31, 2022 & December 31, 2021, the related Profit & Loss Statements, the related Statements of Cashflows, the related Statements of Shareholders' Equity, and the related notes for the twelve-month periods then ended. (collectively referred to as the "financial statements").
In our opinion, the accompanying financial statements present fairly, in all material respects, the financial position of the Company at December 31, 2023 & December 31, 2022 & December 31, 2021, and the results of its operations and its cash flows for the twelve-month periods then ended in accordance with accounting principles generally accepted in the United States of America.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 38)
What This Means (2024 FDD)
According to Chocolate Bash's 2024 Franchise Disclosure Document, the independent accountant's audit report provides an opinion on the company's financial statements. The audit encompassed the balance sheets as of December 31, 2023, 2022, and 2021, along with the related profit and loss statements, statements of cash flows, statements of shareholders' equity, and accompanying notes for the corresponding twelve-month periods.
The accountant's opinion states that the financial statements present fairly, in all material respects, the financial position of Chocolate Bash as of December 31, 2023, 2022, and 2021. It also affirms that the results of its operations and cash flows for the twelve-month periods then ended are presented fairly and in accordance with accounting principles generally accepted in the United States of America.
This opinion is based on an audit conducted in accordance with auditing standards generally accepted in the United States of America (GAAS). The accountant believes that the audit evidence obtained is sufficient and appropriate to provide a basis for their audit opinion, indicating a reasonable level of confidence in the accuracy and reliability of the financial statements. This positive opinion suggests that prospective franchisees can rely on these financial statements as a fair representation of Chocolate Bash's financial performance and position during the periods covered.