What was the amount of accounts receivable, net of allowances, for Engel & Volkers in 2023?
Engel_Volkers Franchise · 2025 FDDAnswer from 2025 FDD Document
e.
We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control related matters that we identified during the audit.
Melville, New York
March 6, 2025
ENGEL & VÖLKERS AMERICAS, INC. AND SUBSIDIARY CONSOLIDATED BALANCE SHEETS DECEMBER 31, 2024 AND 2023
| 2024 | 2023 | |
|---|---|---|
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $ 6,231,465 | $ 5,037,368 |
| Accounts receivable, net of allowances | 2,167,682 | 2,061,110 |
| Prepaid commissions - current | 188,622 | 178,052 |
| Notes receivable - current | - | 1,000,000 |
| Other receivables, net | 552,774 | - |
| Prepaid expenses and other current assets | 1,264,163 | 1,200,397 |
| Due from affiliates, net | 1,284,229 | - |
| Prepaid income taxes | - | 827,611 |
| Total current assets | 11,688,935 | 10,304,538 |
| Property and equipment, net | 379,986 | 541,881 |
| Operating lease right-of-use assets, net | 855,716 | 1,250,662 |
| Other assets: | ||
| Prepaid commissions, net o |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 88)
What This Means (2025 FDD)
According to Engel & Volkers' 2025 Franchise Disclosure Document, the accounts receivable, net of allowances, was $2,061,110 in 2023. This figure represents the amount of money that Engel & Volkers expected to collect from its customers or clients after accounting for potential uncollectible amounts.
For a prospective franchisee, this indicates the level of outstanding payments Engel & Volkers typically carries. It's important to understand how Engel & Volkers manages its accounts receivable and what policies are in place for handling doubtful accounts. This can affect the franchisee's own financial stability and cash flow, as they will also need to manage receivables from their clients.
Understanding the accounts receivable management practices of Engel & Volkers is crucial for franchisees to effectively manage their own finances and maintain a healthy cash flow. Prospective franchisees should inquire about the average collection period, the percentage of uncollectible accounts, and the support provided by Engel & Volkers in managing accounts receivable.