As of the date of this FDD, what is the most recent year for which audited financial statements of the Gokhale Method are included?
Gokhale_Method Franchise · 2024 FDDAnswer from 2024 FDD Document
To the Board of Directors of Gokhale Method Institute, Inc. (a wholly owned subsidiary of Gokhale Method Enterprise, Inc.) Stanford, California
Opinion
We have audited the accompanying financial statements of Gokhale Method Institute, Inc. ("GMI" or the "Company"), which comprise the balance sheet as of December 31, 2023, and the related statements of income, changes in stockholder's equity, and cash flows for the year then ended, and the related notes to the financial statements.
In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Gokhale Method Institute, Inc. as of December 31, 2023, and the results of its operations and its cash flows for the year then ended in accordance with accounting principles generally accepted in the United States of America.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 34)
What This Means (2024 FDD)
According to Gokhale Method's 2024 Franchise Disclosure Document, the most recent year for which audited financial statements are included is December 31, 2023. The audit report includes the balance sheet as of this date, along with statements of income, changes in stockholder's equity, and cash flows for the year then ended.
These financial statements offer prospective franchisees an insight into the financial health and performance of Gokhale Method Institute, Inc., a wholly-owned subsidiary of Gokhale Method Enterprise, Inc. The audit was conducted by independent auditors, who expressed their opinion that the financial statements present fairly the financial position of the company as of December 31, 2023, in accordance with accounting principles generally accepted in the United States of America.
The inclusion of audited financial statements is a standard practice in franchising, allowing potential franchisees to assess the financial stability and operational results of the franchisor. By reviewing these statements, prospective Gokhale Method franchisees can gain a better understanding of the company's revenues, expenses, assets, and liabilities, which can inform their decision-making process.