Are the Christian Brothers Automotive financial statements presented in US dollars?
Christian_Brothers_Automotive Franchise · 2025 FDDAnswer from 2025 FDD Document
The accompanying consolidated financial statements have been prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America (GAAP).
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 75)
What This Means (2025 FDD)
According to the 2025 Christian Brothers Automotive Franchise Disclosure Document, the consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (GAAP). This indicates that the financial statements are presented in U.S. dollars.
The independent auditor's report states that they have audited the consolidated financial statements of Christian Brothers Automotive Corporation. These statements include balance sheets, statements of income, changes in shareholders' equity, and cash flows. The audit is conducted in accordance with auditing standards generally accepted in the United States of America (GAAS).
Furthermore, the notes to the consolidated financial statements confirm that Christian Brothers Automotive is a Texas corporation and a national franchisor with locations throughout the United States of America. This reinforces the understanding that the financial activities are based within the U.S. economic context, implying the use of U.S. dollars for financial reporting.