What is the name of the company whose financial statements were audited for the Gokhale Method franchise?
Gokhale_Method Franchise · 2024 FDDAnswer from 2024 FDD Document
INDEPENDENT AUDITORS' REPORT
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 22 — CONTRACTS (FDD page 34)
What This Means (2024 FDD)
According to the 2024 FDD, the financial statements of Gokhale Method Institute, Inc. were audited. The Independent Auditors' Report states that the audit was conducted on the financial statements of Gokhale Method Institute, Inc. The report includes 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, along with related notes.
The audit was performed to ensure the fair presentation of Gokhale Method Institute, Inc.'s financial position as of December 31, 2023, and the results of its operations and cash flows for the year then ended, in accordance with accounting principles generally accepted in the United States of America.
The report also mentions that Gokhale Method Institute, Inc. is a wholly-owned subsidiary of Gokhale Method Enterprise, Inc. Understanding the relationship between these entities can be important for prospective franchisees, as it clarifies the organizational structure behind the Gokhale Method franchise system.