What was the total value of current assets for Focalpoint Coaching in 2023?
Focalpoint_Coaching Franchise · 2025 FDDAnswer from 2025 FDD Document
t.
Rich, Wightman & Company, CPAs, LLC
Las Vegas, Nevada
February 27, 2024
BALANCE SHEETS December 31, 2023 and 2022
ASSETS
| 2023 | 2022 | |
|---|---|---|
| CURRENT ASSETS | $ 102,789 | $ 74,422 |
| Cash | ||
| Accounts | ||
| receivable, | ||
| including | ||
| $18,334 | ||
| of | ||
| allowance for doubtful accounts for 2023 | 191,057 | 5,740 |
| Prepaid expenses | 36,837 | 18,000 |
| Total current assets | $ 330,683 | $ 98,162 |
| PR |
Source: Item 21 — Financial Statements (FDD page 56)
What This Means (2025 FDD)
According to Focalpoint Coaching's 2025 Franchise Disclosure Document, the company's total current assets in 2023 were valued at $330,683. This figure represents the sum of Focalpoint Coaching's cash, accounts receivable (including an allowance for doubtful accounts), and prepaid expenses.
For a prospective franchisee, understanding the composition and value of current assets is crucial. Current assets are resources that Focalpoint Coaching can convert into cash within one year. A higher value of current assets generally indicates better short-term financial health and liquidity.
The accounts receivable, which includes an allowance for doubtful accounts, represents money owed to Focalpoint Coaching by its customers. The allowance for doubtful accounts is an estimate of the amount of accounts receivable that Focalpoint Coaching may not be able to collect. Prepaid expenses are costs that Focalpoint Coaching has paid in advance for goods or services, such as insurance or rent. These assets are essential for covering immediate liabilities and operational expenses.