What accounting standard does Crave Cookies use to prepare its Statements of Cash Flows?
Crave_Cookies Franchise · 2025 FDDAnswer from 2025 FDD Document
In our opinion, the accompanying financial statements present fairly, in all material respects, the financial position of Crave Cookies Franchising, LLC as of December 31, 2024 and the results of its operations and its cash flows for the year then ended in accordance with accounting principles generally accepted in the United States of America.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 47)
What This Means (2025 FDD)
According to Crave Cookies' 2025 Franchise Disclosure Document, the company prepares its financial statements, including the statements of cash flows, in accordance with accounting principles generally accepted in the United States of America. This is a standard practice, ensuring consistency and comparability in financial reporting.
Specifically, the independent auditors' reports for the financial statements ending December 31, 2024, December 31, 2023 and 2022, and December 31, 2021 state that the financial statements present fairly the financial position, results of operations, and cash flows of Crave Cookies in accordance with these accounting principles. This opinion from independent auditors provides assurance that the financial statements are reliable and fairly presented.
For a prospective franchisee, this means that Crave Cookies' financial reporting follows a recognized and consistent framework. This allows for easier comparison with other franchise opportunities and provides a level of confidence in the financial data presented. Franchisees can rely on these statements, along with the auditor's opinion, to make informed investment decisions.