Where can I find the notes to the financial statements for Itan Franchising, Inc.'s financial statements?
Itan Franchise · 2025 FDDAnswer from 2025 FDD Document
INDEPENDENT AUDITOR'S REPORT
To the Stockholder iTan Franchising, Inc.
Opinion
We have audited the accompanying financial statements of iTan Franchising, Inc., which comprise the balance sheets as of December 31, 2024 and 2023, and the related statements of earnings, stockholder's equity, and cash flows for the years then ended, and the related notes to the financial statements.
Source: Item 23 — RECEIPT (FDD pages 44–190)
What This Means (2025 FDD)
According to Itan's 2025 Franchise Disclosure Document, the notes to the financial statements are included as part of the audited financial statements.
The Independent Auditor's Report states that the audit of Itan Franchising, Inc. includes the balance sheets, statements of earnings, stockholder's equity, and cash flows for the specified years, "and the related notes to the financial statements." This indicates that the notes are a component of the overall financial statements that were reviewed by the auditor.
Furthermore, Note 1 and Note 2, found on page 8 of Item 23, provide specific details about Itan's company information and accounting policies. Note 1 clarifies that Itan Franchising, Inc. was incorporated in 2008 and began operations in 2009, functioning as a franchisor of salons. Note 2 outlines the significant accounting policies used in preparing the financial statements, such as the accrual method, the use of estimates, and policies related to cash and fair value measurements. These notes offer additional context and explanation of the figures presented in Itan's financial statements.