What is the significance of December 14, 2022, in relation to the Gokhale Method's financial statements?
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., 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 22 — CONTRACTS (FDD page 34)
What This Means (2024 FDD)
Based on the 2024 Gokhale Method Franchise Disclosure Document, December 31, 2022, is the date of the balance sheet for which the financial statements were prepared and audited. The financial statements include the balance sheet as of that date, along with related statements of operations, changes in stockholder's equity, and cash flows for the year then ended.
The independent auditors' report confirms that they audited these financial statements, offering their opinion that the statements fairly represent the financial position of Gokhale Method as of December 31, 2022, and the results of its operations and cash flows for the year ending on that date, in accordance with accounting principles generally accepted in the United States of America.
For a potential Gokhale Method franchisee, this means the financial statements provide a snapshot of the company's financial health and performance up to December 31, 2022. These statements, along with the auditor's report, offer insights into the company's profitability, solvency, and overall financial stability, which are crucial factors to consider when evaluating the franchise opportunity.