What date were the financial statements available to be issued for Chocolate Fish Coffee?
Chocolate_Fish_Coffee Franchise · 2024 FDDAnswer from 2024 FDD Document
Management has evaluated subsequent events through March 1, 2024, the date on which the financial statements were available to be issued. Management has determined that none of the events occurring after the date of the balance sheet through the date of Management's review substantially affect the amounts and disclosure of the accompanying financial statements.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 41)
What This Means (2024 FDD)
According to Chocolate Fish Coffee's 2024 Franchise Disclosure Document, the financial statements were available to be issued as of March 1, 2024. This date is important because it signifies when the company's management had completed their review of events subsequent to the balance sheet date (December 31, 2023) and determined that these events did not significantly impact the financial statements.
This indicates that Chocolate Fish Coffee's financial information, as presented in the balance sheet, accurately reflects the company's financial position up to that point, with consideration given to any relevant events that occurred afterward but before the issuance date. Prospective franchisees can use this information to assess the financial health and stability of Chocolate Fish Coffee as of that date.
The independent accountant's audit report and accompanying notes are an integral part of these financial statements. The auditor's report includes the opinion that the financial statements present fairly the financial position of Chocolate Fish Coffee at December 31, 2023. The notes to the financial statements provide additional information and explanations about the company's accounting policies, practices, and financial condition.