What does Focalpoint Coaching base its taxation assets and liabilities on?
Focalpoint_Coaching Franchise · 2025 FDDAnswer from 2025 FDD Document
Opinion
We have audited the accompanying financial statements of FocalPoint Coaching, Inc. (a Nevada corporation), which comprise the balance sheets as of December 31, 2024 and 2023, and the related statements of income, retained earnings (deficit), and cash flows for the years then ended, and the related notes to the financial statements.
In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of FocalPoint Coaching, Inc. as of December 31, 2024 and 2023, and the results of its operations and its cash flows for the years then ended in accordance with accounting principles generally accepted in the United States of America.
Source: Item 21 — Financial Statements (FDD page 56)
What This Means (2025 FDD)
Based on the 2025 FocalPoint Coaching Franchise Disclosure Document, the company adheres to accounting principles generally accepted in the United States of America. This is confirmed by the independent auditor's report, which states that the financial statements of FocalPoint Coaching, Inc. are prepared in accordance with these principles. This means that FocalPoint Coaching follows a standardized set of guidelines and practices when recording and reporting its financial information. These principles ensure transparency and consistency in financial reporting, making it easier for stakeholders to understand and compare the company's financial performance over different periods and against other companies.
The management of FocalPoint Coaching is responsible for preparing these financial statements and ensuring they accurately reflect the company's financial position. This includes designing, implementing, and maintaining internal controls to prevent material misstatements due to fraud or error. The auditor's role is to provide an independent opinion on whether these financial statements present a fair view of the company's financial performance and position, based on their audit.
For a prospective franchisee, this adherence to generally accepted accounting principles (GAAP) is important because it provides a level of assurance that the financial information presented by FocalPoint Coaching is reliable and has been independently verified. It allows potential franchisees to make informed decisions based on a clear and consistent understanding of the franchisor's financial health and performance. Franchisees should review the financial statements and auditor's report carefully, and consult with a financial advisor, to fully understand the implications for their investment.