What years are covered by the Chocolate Bash financial statements included in the audit opinion?
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 audited financial statements include data from December 31, 2023, December 31, 2022, and December 31, 2021. These statements are part of Exhibit D in the FDD. The Chocolate Bash fiscal year ends on December 31.
The independent accountant's audit report, included in the financial statements, covers the balance sheets as of December 31, 2023, December 31, 2022, and December 31, 2021. It also includes the related profit and loss statements, statements of cash flows, statements of shareholders' equity, and related notes for the twelve-month periods then ended.
Because Chocolate Bash has not been in business for three years or more, the FDD does not include all financial statements typically required by the Franchise Rule of the Federal Trade Commission. Prospective franchisees should carefully review these statements and notes to understand Chocolate Bash's financial performance over the past three years. This information can help in assessing the financial stability and potential of the franchise opportunity.