What was the total amount of Cicis' accounts payable as of December 31, 2023?
Cicis Franchise · 2025 FDDAnswer from 2025 FDD Document
| 2023 | 2022 | |
|---|---|---|
| Liabilities and Members' Capital | ||
| Current liabilities: | ||
| Accounts payable | $ 413,045 | $ 107,404 |
| Accounts payable—marketing fund, restricted | 206,861 | 23,972 |
Source: Item 20 — OUTLETS AND FRANCHISEE INFORMATION (FDD pages 58–64)
What This Means (2025 FDD)
According to Cicis' 2025 Franchise Disclosure Document, the total accounts payable as of December 31, 2023, was $413,045. This figure represents the amount Cicis owed to its suppliers and other creditors for goods and services received but not yet paid for at that date. Accounts payable is a current liability, reflecting obligations due within one year.
In addition to the general accounts payable, Cicis also had accounts payable specifically designated for the marketing fund, which amounted to $206,861 as of the same date. This indicates funds allocated for marketing activities that Cicis had not yet disbursed. The existence of separate accounts payable for the marketing fund suggests a structured approach to managing and allocating marketing resources.
For a prospective franchisee, understanding the accounts payable situation of Cicis can provide insights into the company's short-term financial obligations and its management of vendor relationships. A significant increase in accounts payable from one year to the next could indicate potential cash flow challenges or changes in payment practices. Reviewing these figures in conjunction with other financial statement items can offer a more comprehensive view of Cicis' financial health.