For Focus Cfo, are the financial statements presented on a fiscal year basis?
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.
Source: Item 21 — Financial Statements (FDD page 37)
What This Means (2025 FDD)
According to Focus Cfo's 2025 Franchise Disclosure Document, the consolidated balance sheets are presented as of December 31, 2024, and 2023. The related consolidated statements of income, members' equity, and cash flows are for the three years ended December 31, 2024, 2023, and 2022. This indicates that Focus Cfo operates on a fiscal year that aligns with the calendar year, ending on December 31st.
This is a common practice, as many companies align their fiscal year with the calendar year for simplicity and ease of comparison. Franchisees can use these financial statements to understand Focus Cfo's financial performance over the past three years, which can inform their decision-making process.
The auditor's report from BHM CPA Group, Inc. also references these dates, reinforcing that the financial statements cover the period ending on December 31st of each year. Additionally, the notes to the consolidated financial statements specify dates of December 31, 2024, 2023, and 2022.