What accounting standard does Deck Medic utilize for revenue recognition?

According to Deck Medic's 2024 Franchise Disclosure Document, the company's financial statements are prepared in conformity with accounting principles generally accepted in the United States of America (GAAP). This indicates that Deck Medic adheres to GAAP standards for all its accounting policies.

For a prospective franchisee, this means that Deck Medic's financial reporting follows a consistent and widely recognized framework. This consistency allows for easier comparison of Deck Medic's financial performance with other companies that also follow GAAP. It also provides a level of assurance that the financial statements are prepared according to established and accepted accounting practices.

It is important for potential franchisees to review the full financial statements and notes to understand how Deck Medic specifically applies GAAP in recognizing revenue and managing its finances. Understanding these policies can help a franchisee assess the financial health and stability of the franchisor.