What is the basis of presentation for the consolidated financial statements that include Del Taco?
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.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 58)
What This Means (2025 FDD)
According to Del Taco's 2025 Franchise Disclosure Document, the accompanying condensed consolidated financial statements have been prepared following U.S. generally accepted accounting principles (U.S. GAAP) and adhering to the rules and regulations established by the Securities and Exchange Commission (SEC). These financial statements are meant to be read alongside the consolidated financial statements and related notes found in the Company's Annual Report on Form 10-K for the fiscal year that concluded on September 29, 2024. The accounting policies employed in preparing these condensed consolidated financial statements are consistent with those detailed in their 2024 Form 10-K.
Management believes that all necessary adjustments have been made to ensure a fair presentation of the financial condition and operational results for the interim periods covered. However, the operating results from one interim period should not be seen as indicative of results from other interim periods or the entire year.
For a potential Del Taco franchisee, this means the financial statements are prepared using standard accounting practices and are regulated by the SEC. It is important to review these statements in conjunction with the 2024 Form 10-K to gain a comprehensive understanding of Del Taco's financial performance. Keep in mind that interim results may not accurately predict full-year performance.