What standards must the monthly financial statements submitted by Deck Medic franchisees adhere to?

Based on the 2024 Deck Medic 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 means that Deck Medic adheres to a standardized set of guidelines and practices when creating their financial reports. These principles ensure accuracy, consistency, and comparability in financial reporting.

For a Deck Medic franchisee, this indicates that the financial data they receive from the franchisor follows a recognized standard, which can be helpful for understanding the overall financial health and performance of the company. It also suggests that the financial information is reliable and can be used for making informed business decisions.

Furthermore, the FDD includes notes to the financial statements that offer additional context and details about Deck Medic's accounting policies. These notes help in understanding how the company handles items such as cash and cash equivalents, as well as accounts receivable. Franchisees can use this information to better interpret the financial statements and assess the financial stability of Deck Medic.