On what date does the Gokhale Method's fiscal year end?
Gokhale_Method Franchise · 2024 FDDAnswer from 2024 FDD Document
We have audited the accompanying financial statements of Gokhale Method Institute, Inc., which comprise the balance sheet as of December 31, 2022, and the related statements of operations, 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, 2022, 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 the 2024 Gokhale Method FDD, the company's fiscal year ends on December 31. This is based on the provided financial statements, which include balance sheets, income statements, and cash flow statements for the year ending December 31, 2022. The independent auditor's report also confirms that the audit covers the financial statements as of December 31, 2022.
For a prospective franchisee, this means that Gokhale Method assesses its financial performance and position on a yearly cycle concluding on December 31. Understanding the fiscal year-end is important for comparing financial data across different periods and for aligning with Gokhale Method's reporting schedule.
Knowing the fiscal year-end can also be helpful for franchisees in planning their own business activities and financial reporting. Franchisees may want to align their budgeting and financial analysis with Gokhale Method's fiscal year to better understand their performance in relation to the overall company's performance.