Does Mr. Sandless' company identify any recognized or nonrecognized subsequent events that would have required further adjustment or disclosure in the financial statements?
Mr_Sandless Franchise · 2025 FDDAnswer from 2025 FDD Document
8. SUBSEQUENT EVENTS
The Company evaluates events that have occurred after the balance sheet date but before the financial statements are issued. Based upon the evaluation, the Company did not identify any recognized or nonrecognized subsequent events that would have required further adjustment or disclosure in the financial statements. Subsequent events have been reviewed through April 2, 2024, the date at which the financial statements were available to be issued.
Source: Item 21 — FINANCIAL STATEMENTS (FDD pages 41–42)
What This Means (2025 FDD)
According to Mr. Sandless' 2025 Franchise Disclosure Document, the company addresses subsequent events in its financial statements. Mr. Sandless evaluates events that have occurred after the balance sheet date but before the financial statements are issued.
Specifically, Mr. Sandless states that, based on their evaluation, they did not identify any recognized or nonrecognized subsequent events that would have required further adjustment or disclosure in the financial statements. This means that between the balance sheet date and the date the financial statements were issued, no events occurred that would significantly impact the company's financial position or require additional explanation.
The review of subsequent events was conducted through April 2, 2024, which was the date the financial statements were available to be issued. This indicates that Mr. Sandless took measures to ensure that all relevant events were considered up to the point of finalizing the financial statements.