Do the Deck Medic financial statements include a balance sheet?
Deck_Medic Franchise · 2024 FDDAnswer from 2024 FDD Document
We have audited the accompanying financial statements of Deck Medic, Inc. (the "Company") which comprise the balance sheets as of December 31, 2023 and 2022 and the related statements of operations, stockholders' equity, and cash flows for the years then ended, and the related notes to the financial statements.
In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Deck Medic, Inc. as of December 31, 2023 and 2022 and the results of its operations and its cash flows for the years then ended in accordance with accounting principles generally accepted in the United States of America.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 42)
What This Means (2024 FDD)
According to Deck Medic's 2024 Franchise Disclosure Document, the company's financial statements include balance sheets. The Independent Auditor's Report states that the audit encompassed the balance sheets as of December 31, 2023 and 2022. These balance sheets are part of a larger set of financial statements that also include statements of operations, stockholders' equity, and cash flows for the corresponding years.
This inclusion of balance sheets is a standard practice in financial reporting, providing a snapshot of Deck Medic's assets, liabilities, and equity at specific points in time. Franchisees can use this information to assess the company's financial health and stability. The balance sheets, along with the other financial statements, are prepared by Deck Medic's management and audited by an independent CPA firm.
The auditor's opinion indicates that the financial statements present fairly the financial position, results of operations, and cash flows of Deck Medic in accordance with generally accepted accounting principles (GAAP). This opinion provides assurance that the financial information is reliable and can be used for making informed decisions. Prospective franchisees should carefully review these audited financial statements, including the balance sheets, to understand Deck Medic's financial condition before investing in a franchise.