In preparing the financial statements, have the accounting policies been consistently applied for the Gokhale Method?
Gokhale_Method Franchise · 2024 FDDAnswer from 2024 FDD Document
This summary of significant accounting policies of the Company is presented to assist in understanding the Company's financial statements. The financial statements and notes are representations of the Company's management, who is responsible for their integrity and objectivity. These accounting policies conform to accounting principles generally accepted in United States of America ("U.S. GAAP") and have been consistently applied in the preparation of the financial statements.
Source: Item 22 — CONTRACTS (FDD page 34)
What This Means (2024 FDD)
According to Gokhale Method's 2024 Franchise Disclosure Document, the summary of significant accounting policies is presented to assist in understanding the company's financial statements. These financial statements and notes are representations of the Gokhale Method's management, who are responsible for their integrity and objectivity.
The accounting policies used by Gokhale Method conform to accounting principles generally accepted in the United States of America (U.S. GAAP). Furthermore, these policies have been consistently applied in the preparation of the financial statements.
This indicates that Gokhale Method follows standard and consistent accounting practices, which can provide a level of assurance to potential franchisees regarding the reliability and transparency of the financial information presented.