According to what principles are Dryject's financial statements prepared?
Dryject Franchise · 2025 FDDAnswer from 2025 FDD Document
In my opinion, the financial statements referred to above present fairly, in all material respects, the financial position of DryJect Management, LLC as of December 31, 2024 and 2023, 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.
Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America, and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about DryJect Management, LLC's ability to continue as a going concern within one year after the date that the financial statements are available to be issued.
In performing an audit in accordance with generally accepted auditing standards, I:
- Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 49)
What This Means (2025 FDD)
According to Dryject's 2025 Franchise Disclosure Document, the company's financial statements are prepared following accounting principles generally accepted in the United States of America. This adherence to GAAP ensures that the financial statements present Dryject's financial position, results of operations, and cash flows fairly and in all material respects.
Management at Dryject is responsible for preparing and fairly presenting these financial statements. This includes designing, implementing, and maintaining internal controls relevant to the preparation and presentation of financial statements that are free from material misstatement, whether due to fraud or error. Management must also evaluate whether there are conditions or events that raise substantial doubt about Dryject's ability to continue as a going concern within one year after the date the financial statements are available.
An independent auditor audits Dryject's financial statements in accordance with auditing standards generally accepted in the United States of America. The auditor's responsibility is to obtain reasonable assurance about whether the financial statements are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes their opinion. This audit includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.