How much did Cicis have in 'prepaid expenses and other current assets' in 2022?
Cicis Franchise · 2025 FDDAnswer from 2025 FDD Document
ong other matters, the planned scope and timing of the audit, significant audit findings and certain internal control-related matters that we identified during the audit.
Dallas, Texas April 19, 2024
Combined Balance Sheets December 31, 2023 and 2022
| 2023 | 2022 | |
|---|---|---|
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $ 2,931,372 | $ 5,107,778 |
| Cash and cash equivalents—marketing fund, restricted | 771,794 | 432,296 |
| Accounts receivable, net: |
Source: Item 20 — OUTLETS AND FRANCHISEE INFORMATION (FDD pages 58–64)
What This Means (2025 FDD)
According to Cicis's 2025 Franchise Disclosure Document, the company's prepaid expenses and other current assets totaled $270,243 in 2022. This figure is part of the company's overall current assets, which totaled $8,386,381 for the same year. These assets are crucial for covering short-term liabilities and operational costs.
Prepaid expenses typically include items like rent, insurance, and advertising that Cicis has paid for in advance but will use over time. Other current assets can encompass a variety of items, such as inventory, short-term investments, and other liquid assets that can be converted into cash within a year. These assets reflect Cicis's financial health and its ability to meet its immediate obligations.
For a prospective franchisee, understanding the composition and value of these assets is important. It provides insight into Cicis's financial management practices and its capacity to handle day-to-day expenses. Monitoring these figures over time can also reveal trends in Cicis's financial stability and operational efficiency, which are key considerations for anyone investing in a franchise.