What accounting principles were used in the preparation of Focus Cfo Group, LLC's consolidated financial statements according to the opinion?

According to Focus Cfo's 2025 Franchise Disclosure Document, the consolidated financial statements of Focus CFO Group, LLC and Subsidiary were prepared in accordance with accounting principles generally accepted in the United States of America. This adherence to GAAP ensures that the financial statements present fairly, in all material respects, the financial position, results of operations, and cash flows of the company. The auditor's opinion confirms that the financial statements have been audited in accordance with auditing standards generally accepted in the United States of America.

Management is responsible for preparing and fairly presenting the consolidated financial statements according to accounting principles generally accepted in the United States of America. This includes designing, implementing, and maintaining internal controls relevant to preparing financial statements that are free from material misstatement, whether due to fraud or error. Management must also evaluate whether there are conditions or events that raise substantial doubt about the company's ability to continue as a going concern within one year after the financial statements are issued.

The independent auditor, BHM CPA Group, Inc., is responsible for conducting audits in accordance with generally accepted auditing standards to obtain reasonable assurance that the financial statements are free from material misstatement. This involves exercising professional judgment, assessing risks, understanding internal controls, evaluating accounting policies, and assessing the overall presentation of the financial statements. The auditor's report includes an opinion on whether the financial statements present fairly the company's financial position and results of operations in accordance with GAAP.

For a potential Focus Cfo franchisee, this means the company's financials are prepared using standard, recognized accounting practices, which promotes transparency and comparability. Franchisees can have confidence that the financial information provided by Focus Cfo adheres to established standards, facilitating informed decision-making. However, it is important for prospective franchisees to carefully review the entire FDD and consult with financial and legal advisors to fully understand the financial health and obligations associated with investing in a Focus Cfo franchise.