Are the Gokhale Method's financial statements presented on a calendar year basis?

According to the 2024 Gokhale Method Franchise Disclosure Document, the company's financial statements are indeed presented on a calendar year basis. The independent auditors' reports for Gokhale Method Institute, Inc. explicitly state that the balance sheets are as of December 31 for multiple years, including 2020, 2021, 2022 and 2023. The related statements of income, changes in stockholder's equity, and cash flows are also for the years then ended. This indicates a consistent calendar year-end reporting period.

For a prospective Gokhale Method franchisee, this means that the financial data provided in the FDD reflects the company's performance from January 1st to December 31st of each year presented. This standardization allows for easier comparison of financial performance across different years and aligns with common business practices. Franchisees can use this information to understand the seasonality of the business, if any, and to project future performance based on historical trends.

Furthermore, the consistent application of accounting principles generally accepted in the United States of America (U.S. GAAP) ensures that the financial statements are prepared in a reliable and consistent manner. The auditors' reports also provide an independent opinion on the fairness of the presentation of Gokhale Method Institute, Inc.'s financial position, results of operations, and cash flows, offering additional assurance to potential investors and franchisees.