What was the total value of Expense Reduction Analysts' prepaid expenses in 2023?
Expense_Reduction_Analysts Franchise · 2025 FDDAnswer from 2025 FDD Document
d scope and timing of the audit, significant audit findings, and certain internal control related matters that we identified during the audit.
CliftonLarsonAllen LLP
Clifton Larson Allen LLP
Milwaukee, Wisconsin April 18, 2024
| 2023 | (restated) 2022 | |||
|---|---|---|---|---|
| ASSETS | - | |||
| CURRENT ASSETS | ||||
| Cash and Cash Equivalents | $ | 1,251,718 | $ | 1,144,589 |
| Accounts Receivable, Net | 444,102 | 186,685 |
Source: Item 23 — RECEIPTS (FDD pages 58–215)
What This Means (2025 FDD)
According to Expense Reduction Analysts' 2025 Franchise Disclosure Document, the company's total prepaid expenses for 2023 were $85,996. This figure is part of the company's current assets, which totaled $3,415,359 for the same year. Prepaid expenses represent payments made in advance for goods or services that Expense Reduction Analysts will use in the future, such as rent, insurance, or advertising. These are listed as assets on the balance sheet because they provide future economic benefit to the company.
For a prospective Expense Reduction Analysts franchisee, understanding the franchisor's prepaid expenses can offer insights into how the company manages its finances and allocates resources. Prepaid expenses can fluctuate based on the company's strategic decisions, such as investing in marketing campaigns or securing favorable rates on long-term contracts. Monitoring these trends over time can help franchisees assess the financial stability and operational efficiency of Expense Reduction Analysts.
It's also worth noting that prepaid expenses are just one component of the company's overall financial health. Franchisees should review the entire balance sheet and income statement to gain a comprehensive understanding of Expense Reduction Analysts' financial performance. This includes analyzing other assets, liabilities, revenues, and expenses to identify potential risks and opportunities. Consulting with a financial advisor can help prospective franchisees interpret these financial statements and make informed decisions about investing in the franchise.