When does Deck Medic's fiscal year end?
Deck_Medic Franchise · 2024 FDDAnswer from 2024 FDD Document
To the Stockholders of Deck Medic, Inc. Frankfort, Illinois
Opinion
We have audited the accompanying financial statements of Deck Medic, Inc. (an Illinois corporation), which comprise the balance sheets as of December 31, 2022 and 2021 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, 2022 and 2021, 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 fiscal year ends on December 31. This is based on the provided statements of operations for the years ended December 31, 2022 and 2021, as well as the auditor's report which references balance sheets as of December 31, 2023 and 2022. This indicates a consistent year-end date for financial reporting.
For a prospective Deck Medic franchisee, understanding the franchisor's fiscal year-end is important for several reasons. It provides a timeframe for evaluating the company's financial performance and comparing it to previous years. Franchisees can use this information to assess the overall health and stability of Deck Medic as a franchise system.
Additionally, the fiscal year-end is relevant to the franchisee's own financial planning and reporting. It helps align their business operations with the franchisor's reporting cycle, which can be useful for budgeting, forecasting, and tracking performance against the franchisor's benchmarks. Knowing the fiscal year-end also helps franchisees anticipate any potential changes or updates to the franchise system based on the franchisor's annual review and planning processes.