For Endless Summer Sweets, who is responsible for the supplementary information included in Schedule I?
Endless_Summer_Sweets Franchise · 2024 FDDAnswer from 2024 FDD Document
The supplementary information included in Schedule I is presented for purposes of additional analysis and is not a required part of the basic financial statements. Such information is the responsibility of management and was derived from, and relates directly to, the underlying accounting and other records used to prepare the financial statements. The supplementary information has been subjected to the review procedures applied in our review of the basic financial statements. We are not aware of any material modifications that should be made to the supplementary information. We have not audited the supplementary information and do not express an opinion on such information.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 38)
What This Means (2024 FDD)
According to Endless Summer Sweets' 2024 Franchise Disclosure Document, the management of Endless Summer Sweets Franchising Inc. is responsible for the supplementary information included in Schedule I. This information is presented for additional analysis and is not a required part of the basic financial statements.
Schedule I includes details like the Selling, General, and Administrative Expenses for the period from March 9 to December 31, 2023. These expenses include items such as advertising and promotion costs of $10,000 and professional fees of $5,648, totaling $15,648.
It is important to note that while the supplementary information is the responsibility of Endless Summer Sweets' management, it is derived from the company's accounting and other records used to prepare the financial statements. The supplementary information has been subjected to review procedures, but it has not been audited, and no opinion is expressed on it by the auditing firm.