How many years of audited financial statements are included for the Gokhale Method?
Gokhale_Method Franchise · 2024 FDDAnswer from 2024 FDD Document
ial 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.
Basis for Opinion
We conducted our audit in accordance with auditing standards generally accepted in the United States of America. Our responsibilities under those standards are further described in the Auditors' Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of Gokhale Method Institute, Inc. and to meet our other ethical responsibilities in accordance with the relevant ethical requirements relating to our audit.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 34)
What This Means (2024 FDD)
According to the 2024 FDD, the Gokhale Method Institute, Inc. includes audited financial statements for multiple years. Specifically, there are reports for the years ending December 31, 2021 and 2020, as well as a balance sheet as of December 31, 2023, with related statements of income, changes in stockholder's equity, and cash flows for the year then ended.
This means a prospective franchisee can review the company's financial performance over a period of time to identify trends and assess financial stability. Having access to multiple years of data provides a more comprehensive view than a single year alone.
It is standard practice for franchisors to include multiple years of audited financial statements in their FDDs to give potential franchisees a clearer picture of the company's financial health and historical performance. Reviewing these statements is a crucial step in the due diligence process for anyone considering investing in a Gokhale Method franchise.