When evaluating Dryject Management, LLC's financial statements, what accounting aspects must be assessed?
Dryject Franchise · 2025 FDDAnswer from 2025 FDD Document
, SUITE 202 NEPTUNE, NEW JERSEY 07753
Phone: 732-869-1170 Fax: 732-869-1130 www.rogersteincpa.com
MEMBER: NEW JERSEY SOCIETY OF CERTIFIED PUBLIC ACCOUNTANTS LICENSED NEW JERSEY & NEW YORK
INDEPENDENT AUDITOR'S REPORT
TO: DRYJECT MANAGEMENT, LLC HATBORO, PENNSYLVANIA
Opinion
I have audited the accompanying financial statements of DryJect Management, LLC (a single member LLC), which comprise the balance sheets as of December 31, 2024 and 2023, and the related statements of income and member's capital, and cash flows for the years then ended, and the related notes to the financial statements.
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.
Basis for Opinion
I conducted my audit in accordance with auditing standards generally accepted in the United States of America. My responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of my report. I am required to be independent of DryJect Management, LLC and to meet my other ethical responsibilities in accordance with the relevant ethical requirements relating to my audit. I believe that the audit evidence I have obtained is sufficient and appropriate to provide a basis for my audit opinion.
Responsibilities of Management for the Financial Statements
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.
Source: Item 8 — BUSINESS RELATIONSHIP (FDD pages 68–229)
What This Means (2025 FDD)
According to Dryject's 2025 Franchise Disclosure Document, the financial statements of DryJect Management, LLC, which include balance sheets as of December 31, 2024 and 2023, statements of income and member's capital, and cash flows for the years then ended, should be assessed to ensure they are presented fairly and in accordance with accounting principles generally accepted in the United States of America. The auditor's report indicates that the financial statements have been audited according to generally accepted auditing standards. This means an independent auditor has reviewed the statements and provided an opinion on whether they are free from material misstatement.
Specifically, when evaluating Dryject's financial statements, a prospective franchisee should consider whether management has designed, implemented, and maintained internal controls relevant to the preparation and fair presentation of the financial statements. These controls should ensure the statements are free from material misstatement, whether due to fraud or error. Furthermore, management is required to 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 issued.
The auditor's responsibilities include exercising professional judgment, maintaining professional skepticism, identifying and assessing risks of material misstatement, and evaluating the appropriateness of accounting policies and the reasonableness of significant accounting estimates. The auditor also assesses the overall presentation of the financial statements and concludes whether there is substantial doubt about DryJect's ability to continue as a going concern. The auditor's report, dated March 24, 2025, provides an opinion on the financial statements as of December 31, 2024 and 2023. This report assures that the financial statements present fairly the financial position, results of operations, and cash flows of DryJect Management, LLC for the specified periods.