When does Extreme Art Studio's fiscal year end?
Extreme_Art_Studio Franchise · 2024 FDDAnswer from 2024 FDD Document
Exhibit D contains the financial statements required to be included with this Franchise Disclosure Document: our unaudited financial statements as of January 31, 2024, as well as audited balance sheet as of December 31, 2023. Our fiscal year end is December 31st.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 49)
What This Means (2024 FDD)
According to the 2024 Franchise Disclosure Document, Extreme Art Studio's fiscal year ends on December 31st. This is explicitly stated in Item 21, which covers the company's financial statements. The financial statements include an audited balance sheet as of December 31, 2023.
For a prospective franchisee, understanding the fiscal year-end is important for several reasons. It sets the timeline for financial reporting, tax obligations, and performance reviews. Franchisees can align their business planning and financial tracking with Extreme Art Studio's fiscal year to ensure consistency and comparability.
Knowing the fiscal year-end also helps franchisees interpret the financial statements provided in the FDD. These statements, including the balance sheet and income statement, provide a snapshot of Extreme Art Studio's financial health as of December 31, 2023. Franchisees can use this information to assess the franchisor's stability and make informed decisions about investing in the franchise.