What is the fiscal year end for Chocolate Fish Coffee?
Chocolate_Fish_Coffee Franchise · 2024 FDDAnswer from 2024 FDD Document
ociated with our franchise system.
Item 21 FINANCIAL STATEMENTS
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 opening balanc
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 41)
What This Means (2024 FDD)
According to the 2024 Franchise Disclosure Document, Chocolate Fish Coffee's fiscal year end is December 31. This means that the company concludes its accounting period and prepares its financial statements at the end of December each year.
For a prospective franchisee, understanding the franchisor's fiscal year end is important for several reasons. It provides a timeframe for analyzing the company's financial performance and comparing it to previous years. The balance sheet included in the FDD is dated December 31, 2023.
Knowing the fiscal year end also helps franchisees align their own financial planning and reporting with that of Chocolate Fish Coffee. This can be useful for budgeting, forecasting, and understanding the overall financial health of the franchise system. The audit report included in the FDD is dated March 1, 2024.