What was the total amount of Face Foundrie's accounts payable in 2024?
Face_Foundrie Franchise · 2025 FDDAnswer from 2025 FDD Document
| 4 | 2023 | 2022 | |
|---|---|---|---|
| Deferred revenue, current | $ 819,881 | $ 447,000 | $ 131,147 |
| Deferred revenue, non-current | 1,727,727 | 1,786,704 | 1,637,657 |
| $ 2,547,608 | $ 2,233,704 | $ 1,768,804 |
(5) Accounts Payable
As of December 31, 2024 and 2023, accounts payable totaled $42,622 and $20,074, respectively, consisting of amounts owed to vendors and franchisees for goods received and services rendered in the ordinary course of business. Accounts payable primarily represent trade payables with credit terms ranging from 0-90 days. Primarily all payables are within the 60 day range as of December 31, 2024 and 2023.
Accounts payable balances are recorded at their original invoiced amounts and are recognized as liabilities on the balance sheet until paid. The Company evaluates the carrying amount of accounts payable regularly to ensure they are properly valued and cla
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 73)
What This Means (2025 FDD)
According to Face Foundrie's 2025 Franchise Disclosure Document, the company's accounts payable totaled $42,622 as of December 31, 2024. These payables represent amounts owed to vendors and franchisees for goods and services received during the normal course of business operations. The credit terms for these trade payables typically range from 0 to 90 days, with the majority falling within the 60-day range.
Accounts payable are recorded at their original invoiced amounts and are recognized as liabilities on Face Foundrie's balance sheet until they are paid. The company regularly assesses the carrying amount of these payables to ensure they are properly valued and classified as current liabilities. This indicates Face Foundrie's commitment to maintaining accurate and up-to-date financial records.
The FDD states that Face Foundrie did not have any significant concentrations of credit risk related to accounts payable as of December 31, 2024, 2023, and 2022. Additionally, there were no material uncertainties regarding the timing or amount of future cash outflows associated with accounts payable. This suggests that Face Foundrie has a stable and predictable payment cycle, which is a positive sign for potential franchisees.