What was the contract assets value for Crave Cookies in 2021?
Crave_Cookies Franchise · 2025 FDDAnswer from 2025 FDD Document
Accounts receivable are stated at the amount of consideration from customers of which the Company has an unconditional right to receive. The Company provides an allowance for doubtful accounts, which is based upon a review of outstanding receivables, historical collection information and existing economic conditions. As of December 31, 2022 and 2021, there was no allowance for doubtful accounts recorded.
Generally, the Company does not charge interest on past due accounts. Delinquent receivables are written off based on individual credit evaluation and specific circumstances of the customer. No bad debt expense was recorded in 2022 or 2021.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 47)
What This Means (2025 FDD)
Based on the 2025 Crave Cookies Franchise Disclosure Document, specific details regarding the contract assets value for 2021 are not provided. However, the FDD does include information on accounts receivable, which are stated at the amount of consideration from customers of which Crave Cookies has an unconditional right to receive.
The document mentions that Crave Cookies provides an allowance for credit losses based on reviews of outstanding receivables, historical collection information, and economic conditions. For the years 2022 and 2021, there was no allowance for doubtful accounts recorded. Additionally, the company generally does not charge interest on past due accounts, and delinquent receivables are written off based on individual credit evaluations and specific customer circumstances. No bad debt expense was recorded in 2022 or 2021.
To get precise figures for contract assets, a prospective franchisee should ask Crave Cookies for the balance sheets as of December 31, 2021, and December 31, 2022, as referenced in the Independent Auditor's Report. This will provide a clearer picture of the company's financial position and any trends in its receivables and assets.