To which accounting principles do the Gokhale Method's accounting policies conform?

According to the 2024 Gokhale Method Franchise Disclosure Document, the company's accounting policies conform to accounting principles generally accepted in the United States of America, also known as U.S. GAAP. This means that Gokhale Method's financial statements are prepared following a standardized set of rules and guidelines, ensuring consistency and comparability with other companies' financial statements in the U.S. This adherence to U.S. GAAP is important for potential franchisees as it provides a level of assurance that the financial information presented by Gokhale Method is reliable and transparent.

The FDD also includes an Independent Auditor's Report, which expresses an opinion on whether Gokhale Method's financial statements present fairly its financial position, results of operations, and cash flows in accordance with U.S. GAAP. This audit is conducted in accordance with auditing standards generally accepted in the United States of America, providing further assurance of the reliability of the financial statements.

Furthermore, the management of Gokhale Method is responsible for the preparation and fair presentation of these financial statements in accordance with U.S. GAAP. This includes the design, implementation, and maintenance of internal controls relevant to the preparation and fair presentation of the financial statements, ensuring they are free from material misstatement, whether due to fraud or error. Prospective franchisees can take comfort in knowing that Gokhale Method's financial reporting is subject to these standards and oversight.