Are the Focus Cfo financial statements consolidated?
Focus_Cfo Franchise · 2025 FDDAnswer from 2025 FDD Document
of Changes in Members' Equity | 7 | | Consolidated Statements of Cash Flows | | | Notes to Consolidated Financial Statements | |
INDEPENDENT AUDITOR'S REPORT
To the Members Focus CFO Group, LLC Columbus, Ohio
Opinion
We have audited the accompanying consolidated balance sheets of Focus CFO Group, LLC and Subsidiary (the Company) (a Limited Liability Company) as of December 31, 2024 and 2023, and the related consolidated statements of income, members' equity, and cash flows for the three years ended December 31, 2024, 2023, and 2022, and the related notes to the consolidated financial statements. In our opinion the consolidated financial statements referred to above present fairly, in all material respects, the financial position of Focus CFO Group, LLC and Subsidiary as of December 31, 2024, 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.
Source: Item 21 — Financial Statements (FDD page 37)
What This Means (2025 FDD)
According to Focus Cfo's 2025 Franchise Disclosure Document, the financial statements are consolidated. The Independent Auditor's Report states that the audit firm, BHM CPA Group, Inc., audited the accompanying consolidated balance sheets of Focus CFO Group, LLC and Subsidiary as of December 31, 2024 and 2023. The audit also covered the related consolidated statements of income, members' equity, and cash flows for the three years ended December 31, 2024, 2023, and 2022, including the related notes to the consolidated financial statements.
The summary of significant accounting policies confirms that the consolidated financial statements include the accounts of FocusCFO and its wholly-owned subsidiary LTD. It also specifies that all inter-company accounts and transactions have been eliminated during the consolidation process. This means that the financial performance and position of both FocusCFO and its subsidiary are presented together as a single economic unit, providing a comprehensive view of the overall financial health of the organization.
For a prospective franchisee, this consolidation is beneficial because it offers a more complete picture of Focus Cfo's financial stability. By combining the financials of the parent company and its subsidiary, it eliminates any potential for obscuring financial realities through inter-company transactions. This transparency can help franchisees make a more informed decision about investing in a Focus Cfo franchise, as they can see the entire financial scope of the organization they are joining.