On what page of the Focalpoint Coaching FDD are the statements of income (loss) located?
Focalpoint_Coaching Franchise · 2025 FDDAnswer from 2025 FDD Document
MENTARY INFORMATION | 16 | | SUPPLEMENTARY INFORMATION | | | Net revenues | 17 | | Cost of revenues | 17 | | General and administrative expenses | 18 |
INDEPENDENT AUDITOR'S REPORT
To the Board of Directors FocalPoint Coaching, Inc. Henderson, Nevada
Opinion
We have audited the accompanying financial statements of FocalPoint Coaching, Inc. (a Nevada corporation), which comprise the balance sheets as of December 31, 2023 and 2022, and the related statements of income (loss), 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, 2023 and 2022, 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.
Basis for Opinion
We conducted our audit in accordance with auditing standards generally accepted in the United States of America. Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of FocalPoint Coaching Inc. and to meet our other ethical responsibilities in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
Responsibilities of Management for the Financial Statements
Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America, and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about FocalPoint Coaching Inc.'s ability to continue as a going concern within one year after the date that the financial statements are available to be issued.
Source: Item 21 — Financial Statements (FDD page 56)
What This Means (2025 FDD)
According to Focalpoint Coaching's 2025 Franchise Disclosure Document, the independent auditor's report refers to the statements of income (loss) for the years ended December 31, 2023, and 2022. This is mentioned on page 161. Additionally, another independent auditor's report, which also refers to the statements of income, is located on page 140 for the years ended December 31, 2024, and 2023.
These statements are crucial for prospective franchisees as they provide an overview of Focalpoint Coaching's financial performance over the past few years. By reviewing these statements, potential franchisees can gain insights into the company's profitability, revenue trends, and overall financial health. This information can help them assess the financial stability of the franchisor and make informed decisions about investing in a franchise.
It is important to note that the financial statements are audited by an independent auditor, which adds credibility to the information presented. The auditor's opinion indicates whether the financial statements present fairly the financial position of Focalpoint Coaching in accordance with accounting principles generally accepted in the United States of America. This provides assurance to potential franchisees that the financial information is reliable and accurate.
Furthermore, the FDD includes supplementary information such as schedules of net revenues, cost of revenues, and general and administrative expenses. For the years ended December 31, 2023 and 2022, this information is located on pages 17 through 18. For the years ended December 31, 2024 and 2023, this information is located on pages 18 through 19. While this information is not a required part of the basic financial statements, it provides additional details about Focalpoint Coaching's financial performance and can be helpful for potential franchisees in evaluating the franchise opportunity.