Until what date were subsequent events evaluated for Fat Shack's financial statements?
Fat_Shack Franchise · 2025 FDDAnswer from 2025 FDD Document
The Company evaluates events that have occurred after the balance sheet date but before the financial statements are issued. Based upon the evaluation, the company did not identify any recognized or non-recognized subsequent events that would have required further adjustment or disclosure in the financial statements. Subsequent events were evaluated though March 1, 2025 at which time the financial statements were available to be issued.
Source: Item 23 — Receipts (FDD pages 53–223)
What This Means (2025 FDD)
According to Fat Shack's 2025 Franchise Disclosure Document, the company evaluated events that occurred after the balance sheet date, but before the financial statements were issued, through March 1, 2025. At that time, the financial statements were available to be issued.
This means that Fat Shack's financial statements for the years 2022, 2023, and 2024 take into account any events that occurred up to March 1, 2025, which could materially affect the company's financial position. This evaluation is a standard accounting practice to ensure that financial statements provide an accurate and up-to-date view of the company's financial health.
For a prospective franchisee, this indicates that the financial information provided in the FDD has been vetted for any significant events that occurred shortly after the close of the fiscal year. This provides a degree of confidence that the financial picture presented is as accurate as possible, given the information available at the time of issuance.