Are notes related to the financial statements included in the Christian Brothers Automotive financial statements?
Christian_Brothers_Automotive Franchise · 2025 FDDAnswer from 2025 FDD Document
We have audited the consolidated financial statements of Christian Brothers Automotive Corporation, which comprise the consolidated balance sheets as of December 31, 2024 and 2023, and the related consolidated statements of income, changes in shareholders' equity and cash flows for the years then ended, and the related notes to the consolidated financial statements.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 75)
What This Means (2025 FDD)
According to the 2025 Christian Brothers Automotive Franchise Disclosure Document, the financial statements include related notes.
The Independent Auditors' Report states that the audit of Christian Brothers Automotive Corporation's consolidated financial statements includes the "related notes to the consolidated financial statements." These notes are integral to understanding the financial position, results of operations, and cash flows of Christian Brothers Automotive.
The inclusion of these notes is standard practice in financial reporting, as they provide additional details and explanations about the figures presented in the main financial statements. For a prospective franchisee, this means they have access to a more comprehensive view of Christian Brothers Automotive's financial health and accounting practices. Examining these notes can reveal important information about the company's accounting policies, debt obligations, and other factors that could impact its future performance. The FDD includes notes to the consolidated financial statements for December 31, 2024 and 2023, as well as for December 31, 2023 and 2022.