What was the net accounts receivable for Deck Medic as of December 31, 2021?
Deck_Medic Franchise · 2024 FDDAnswer from 2024 FDD Document
The Company's financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America ("GAAP").
For purposes of the Statement of cash flows, cash equivalents include bank accounts and cash in transit for bank deposits with maturities of three months or less to be cash equivalents.
At the years ended December 31, 2022 and 2021, Accounts Receivables consisted of the following:
Source: Item 23 — RECEIPTS (FDD pages 43–228)
What This Means (2024 FDD)
According to Deck Medic's 2024 Franchise Disclosure Document, the financial statements include balance sheets as of December 31, 2022, and 2021. Notes to these financial statements indicate that they are prepared in conformity with generally accepted accounting principles in the United States of America. These principles dictate how accounts receivable are handled and reported. However, the exact net accounts receivable figure for December 31, 2021, is not specified in the provided excerpts.
While the excerpts discuss accounts receivable as part of Deck Medic's accounting policies, they do not provide the specific value of accounts receivable for either 2021 or 2022. The notes to the financial statements explain that accounts receivable are managed according to GAAP standards, but the actual amount is not disclosed.
A prospective franchisee should request the specific net accounts receivable figure for December 31, 2021, from Deck Medic. Understanding the company's accounts receivable can provide insights into its revenue collection efficiency and overall financial health. This information is crucial for making an informed investment decision.
In summary, while the excerpts confirm that Deck Medic has accounts receivable and that these are accounted for according to standard accounting practices, the actual value for the date in question is not present. A potential franchisee will need to obtain this information directly from Deck Medic to complete their financial due diligence.