What was the accumulated amortization for Face Foundrie's software as of December 31, 2023?
Face_Foundrie Franchise · 2025 FDDAnswer from 2025 FDD Document
| Identifiable intangibles assets consist of the following as of December 31, 2024, 2023 and 2022: | ||||
|---|---|---|---|---|
| 2024 | 2023 | 2022 | ||
| Software | $62,340 | $62,340 | $42,340 | |
| Accumulated amortization | (20,936) | (8,468) | - | |
| $41,404 | $53,872 | $42,340 |
Source: Item 23 — RECEIPTS (FDD pages 74–257)
What This Means (2025 FDD)
According to Face Foundrie's 2025 Franchise Disclosure Document, as of December 31, 2023, the accumulated amortization for software was $8,468. This figure represents the total amount of amortization expense that Face Foundrie has recognized for its software assets up to that date. Amortization is the systematic allocation of the cost of an intangible asset (like software) over its useful life.
For a prospective Face Foundrie franchisee, understanding accumulated amortization is important for assessing the company's financial health and how it manages its assets. It provides insight into the value of the software assets and how quickly they are being depreciated. This can be useful in evaluating the company's investment in technology and its potential impact on the franchisee's operations.
It's worth noting that the FDD also includes the software value and accumulated amortization for 2022 and 2024, allowing for a comparison of these figures over time. This can help potential franchisees identify trends and better understand how Face Foundrie manages its intangible assets. Reviewing these figures in the context of the company's overall financial statements can provide a more comprehensive understanding of its financial position.