What was the total amount of accrued expenses for Kidokinetics as of December 31, 2022?
Kidokinetics Franchise · 2024 FDDAnswer from 2024 FDD Document
) Accrued Expenses
Accrued expenses consist of payroll liabilities, retainer fees for management services to be provided to franchisees, and broker commissions. As of December 31, 2023 and 2022, accrued expenses were $138,810 and $41,609, respectively. As of December 31, 2021, the Company had n
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 59)
What This Means (2024 FDD)
According to Kidokinetics' 2024 Franchise Disclosure Document, the total accrued expenses as of December 31, 2022, were $41,609. Accrued expenses for Kidokinetics consist of payroll liabilities, retainer fees for management services provided to franchisees, and broker commissions.
Accrued expenses represent liabilities that Kidokinetics has incurred but not yet paid. These are important to understand because they reflect the company's short-term obligations. Significant changes in accrued expenses from year to year could indicate shifts in Kidokinetics' operational practices or financial management.
Prospective franchisees should pay close attention to these figures as they provide insight into the company's financial health and how it manages its short-term liabilities. Comparing these accrued expenses with those of other similar franchises can also provide a benchmark for assessing Kidokinetics' financial stability.