What accounting standards are used in preparing the Del Taco financial statements?
Del_Taco Franchise · 2025 FDDAnswer from 2025 FDD Document
Basis of presentation — The accompanying condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles ("U.S. GAAP") and the rules and regulations of the Securities and Exchange Commission ("SEC").
These financial statements should be read in conjunction with the consolidated financial statements and related notes contained in the Company's Annual Report on Form 10-K for the fiscal year ended September 29, 2024 ("2024 Form 10-K"). The accounting policies used in preparing these condensed consolidated financial statements are the same as those described in our 2024 Form 10-K.
In our opinion, all adjustments considered necessary for a fair presentation of financial condition and results of operations for these interim periods have been included. Operating results for one interim period are not necessarily indicative of the results for any other interim period or for the full year.
Fiscal year — The Company's fiscal year is 52 or 53 weeks ending the Sunday closest to September 30. Both fiscal years 2025 and 2024 include 52 weeks. Our first quarter includes 16 weeks and all other quarters include 12 weeks. All comparisons between 2025 and 2024 refer to the 16 weeks ("quarter") and 16 weeks ("year-to-date") ended January 19, 2025 and January 21, 2024, respectively, unless otherwise indicated.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 58)
What This Means (2025 FDD)
According to the 2025 Del Taco Franchise Disclosure Document, the accompanying condensed consolidated financial statements have been prepared following U.S. generally accepted accounting principles (U.S. GAAP) and the rules and regulations of the Securities and Exchange Commission (SEC).
These financial statements are meant to be read alongside the consolidated financial statements and related notes in the Company's Annual Report on Form 10-K for the fiscal year ended September 29, 2024. The accounting policies used to prepare these condensed consolidated financial statements are consistent with those described in their 2024 Form 10-K.
All adjustments considered necessary for a fair presentation of financial condition and results of operations for these interim periods have been included. However, operating results for one interim period may not necessarily indicate the results for any other interim period or for the full year. Del Taco's fiscal year is the 52 or 53 weeks ending the Sunday closest to September 30.