Examples of Franchise Disclosure Document in the following topics:
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- Prior to a franchisee signing a contract, the US Federal Trade Commission regulates information disclosures under the authority of The Franchise Rule .The Franchise Rule requires that a franchisee be supplied a Uniform Franchise Offering Circular (UFOC ) or Franchise Disclosure Document (FDD ) prior to signing a franchise agreement, a minimum of ten days before signing a franchise agreement.
- Once the Federal ten-day waiting period has passed, the Franchise Agreement becomes a State level jurisdiction document.
- Each state has unique laws regarding franchise agreements.
- Uniform Franchise Offering Circular (UFOC) or FDD Franchise Disclosure Document (FDD)
- Franchising agreements contain many legal documents that must be understood and filled out.
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- The full disclosure principle states information important enough to influence decisions of an informed user should be disclosed.
- The full disclosure principle states that information important enough to influence the decisions of an informed user of the financial statements should be disclosed.
- In judging whether or not to disclose information, it is better to err on the side of too much disclosure rather than too little.
- Many lawsuits against CPAs and their clients have resulted from inadequate or misleading disclosure of the underlying facts.
- As an accountant, the full disclosure principle is important because the notes to the financial statements and other financial documents are subject to audit.
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- However, they must disclose whether they follow the recommendations in those documents and, where not, they should provide explanations concerning divergent practices.
- Such disclosure requirements exert a significant pressure on listed companies for compliance.
- Contemporary discussions of corporate governance tend to refer to principles raised in three documents released since 1990: The Cadbury Report (UK, 1992), the Principles of Corporate Governance (OECD, 1998 and 2004), the Sarbanes-Oxley Act of 2002 (US, 2002).
- Disclosure of material matters concerning the organization should be timely and balanced to ensure that all investors have access to clear, factual information.
- This internationally agreed benchmark consists of more than fifty distinct disclosure items across five broad categories:
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- Elements of a Business Plan: Cover sheet, Executive summary (statement of the business purpose), Table of contents, Body of the document, Business Description of business, Marketing Competition, Operating procedures, Personnel Business insurance, Financial data, Loan applications, Capital equipment and supply list, Balance sheet Break-even analysis, Profit and loss statements, Three-year summary, Detail by month -- first year, Detail by quarters -- second and third year, Assumptions upon which projections were based, Pro-forma cash flow, Supporting documents, Tax returns of principals (partners in the business) for last three years, Personal financial statements (all banks have these forms), Copy of franchise contract and all supporting documents provided by the franchisor (for franchise businesses), Copy of proposed lease or purchase agreement for building space, Copy of licenses and other legal documents, Copy of resumes of all principals, Copies of letters of intent from suppliers, etc.
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- In essence, The Freedom of Information Act (FOIA) is a federal freedom of information law that allows for the full or partial disclosure of previously unreleased information and documents controlled by the United States government.
- The Act defines agency records subject to disclosure, outlines mandatory disclosure procedures and grants nine exemptions to the statute.
- Along with making public and accessible all bureaucratic and technical procedures for applying for documents from that agency, agencies are also subject to penalties for hindering the process of a petition for information.
- A major issue in released documentation is government "redaction" of certain passages deemed applicable to the Exemption section of the FOIA .
- Federal Bureau of Investigation (FBI) officers in charge of responding to FOIA requests have prevented further research by using extensive use of redaction of documents in print or electronic form.
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- Example of Disclosures of Contingencies: "A jury awarded USD 5.2 million to a former employee of the Company for an alleged breach of contract and wrongful termination of employment.
- Although similarly named, the annual report on Form 10-K is distinct from the often glossy "annual report to shareholders," which a company must send to its shareholders when it holds an annual meeting to elect directors (though some companies combine the annual report and the 10-K into one document).
- Changes in and Disagreements With Accountants on Accounting and Financial Disclosure
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- Thus, in the absence of such statutory provisions, the members of an LLC must establish governance and protective provisions pursuant to an operating agreement or similar governing document.
- Many jurisdictions levy a franchise tax or capital values tax on LLCs.
- In essence, this franchise or business privilege tax is the fee the LLC pays the state for the benefit of limited liability.
- The amount of the franchise tax can be based on the following:
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- Colonies have sometimes been referred to as self-governing in situations where the executive has not been under the control of the imperial government; the term self-governing can refer to the direct rule of a Crown Colony by an executive governor elected under a limited franchise.
- The Mayflower Compact was the first governing document of Plymouth Colony.
- In 1620, the Mayflower Compact became the first governing document of Plymouth Colony.
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- Once invoked, a presumption of privilege is established, requiring the prosecutor to make a "sufficient showing" that the "Presidential material" is "essential to the justice of the case. " Historically, the uses of executive privilege underscore the untested nature of the doctrine, since Presidents have generally sidestepped open confrontations with the United States Congress and the courts over the issue by first asserting the privilege, then producing some of the documents requested on an assertedly voluntary basis.
- During the Army–McCarthy hearings in 1954, Eisenhower used the claim of executive privilege to forbid the "provision of any data about internal conversations, meetings, or written communication among staffers, with no exception to topics or people. " Department of Defense employees were also instructed not to testify on any such conversations or produce any such documents or reproductions.
- Bush first asserted executive privilege to deny disclosure of sought details regarding former Attorney General Janet Reno, the scandal involving the Federal Bureau of Investigation (FBI) misuse of organized-crime informants James J.
- On June 20, 2012, President Barack Obama asserted executive privilege, his first, to withhold certain Department of Justice documents related to the ongoing Operation Fast and Furious controversy ahead of a United States House Committee on Oversight and Government Reform vote to hold Attorney General Eric Holder in Contempt of Congress for refusing to produce the documents.
- Later the same day, the United States House Committee on Oversight and Government Reform voted 23-17 along party lines to hold Attorney General Holder in contempt of Congress over not releasing documents regarding Fast and Furious.
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- Air Force's facility in the vicinity of Groom Lake, Nevada (commonly called Area 51) from environmental disclosure laws, in response to subpoenas from a lawsuit brought by Area 51 workers alleging illegal hazardous waste disposal which resulted in injury and death.
- A Presidential Determination is a document issued by the White House stating a determination resulting in an official policy or position of the executive branch of the United States government.
- Air Force's facility in the vicinity of Groom Lake, Nevada (commonly called Area 51) from environmental disclosure laws, in response to subpoenas from a lawsuit brought by Area 51 workers alleging illegal hazardous waste disposal which resulted in injury and death.