What was the total members' equity for Focus Cfo in 2023?
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.
Basis for Opinion
We conducted our audits 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 Consolidated Financial Statements section of our report. We are required to be independent of Focus CFO Group, LLC and Subsidiary and to meet our other ethical responsibilities in accordance with the relevant ethical requirements relating to our audits.
Source: Item 23 — Receipts (FDD pages 37–126)
What This Means (2025 FDD)
I am unable to provide the exact figure for Focus Cfo's total members' equity in 2023, as the provided excerpts do not contain this specific data point. However, the 2025 FDD includes audited consolidated balance sheets as of December 31, 2024 and 2023, along with related consolidated statements of income, members' equity, and cash flows for the three years ended December 31, 2024, 2023, and 2022. These financial statements are audited by an independent auditor. The FDD also mentions a restatement of the 2023 financial statements due to certain errors, which included an adjustment to members' equity as of December 31, 2023, to correct the error.
A prospective franchisee should carefully review the full audited financial statements in the FDD, including the notes, to understand the company's financial position and performance. Given the restatement, it would be prudent to inquire about the nature of the errors and the reasons for the restatement to fully understand the members' equity.
To get the specific number for the total members' equity in 2023, a potential franchisee should ask Focus Cfo directly for this information and carefully review the provided financial statements and related notes within Item 23 of the FDD.