Accounting, Reports and Financial Statements. Manager shall perform such accounting and financial reporting services regarding the Project which is normally provided with respect to first-class office buildings in the area and any additional accounting and financial reporting services which are required pursuant to the documents and agreements governing Owner's lending relationships ("Loan Compliance Requirements"). Without limiting the generality of the foregoing, Manager shall, by the twentieth (20th) day of each month, prepare and provide to Owner monthly operating reports for the immediately preceding month (each, a "Monthly Report"), including, (i) an unaudited year-to-date financial statement; (ii) statement of net operating income, (iii) summary of all lease activity, (iv) a balance sheet, (v) a calculation of the Management Fee (as defined below), (vi) a comparison of monthly and year-to-date actual income and expense with the operating budget in the Annual Plan and, (vii) on a quarterly basis only, an analysis of any significant variances between budgeted and actual amounts. If requested by Owner, Manager shall also, within ninety (90) days after the end of any Fiscal Year, prepare and provide to Owner annual financial statements and, at Owner's cost and expense, cause such statements to be audited. Upon request by Owner, Manager shall prepare and supply to Owner periodic cash flow forecasts. Manager shall also provide to Owner coordination for external and internal audits, tax planning and compliance in a manner and form mutually agreeable by Owner and Manager, and Manager shall provide additional information reasonably required by individual partners of Owner for their financial statement purposes for an amount equal to the cost of obtaining such work.
Accounting, Reports and Financial Statements. You agree to maintain, at your own expense, the Joint Software and accounting software, to act as a bookkeeping, accounting, and record keeping system for the Franchise. The Joint Software includes the capability of being polled by our central computer system, which you agree to permit. With respect to the operation and financial condition of the Franchise, we will pull from the Joint Software (if available), or require you to provide from your accounting software in a form we designate, or in accordance with General Acceptably Accounting Principles (“GAAP”), as the case may be, the following: (1) by Tuesday of each week, an electronic report of the Franchise’s gross revenues for the preceding week ending on, and including, Sunday, and any other data, information, and supporting records that we may require; (2) by the thirtieth (30th) day of each month, a profit and loss statement for the preceding calendar month, and a year-to-date profit and loss statement and balance sheet; (3) within ninety (90) days after the end of your fiscal year, a fiscal year-end balance sheet, and an annual profit and loss statement for that fiscal year, reflecting all year-end adjustments; and (4) such other reports as we require from time to time (collectively, the “Reports”). You agree to input all Franchise transactions into the Joint Software and your accounting software in a timely manner to ensure that all Reports are accurate. If it is determined that any information was omitted from the Joint Software or your accounting software was input inaccurately, or you have failed to provide us any required Reports, we may charge a non-refundable accounting fee of One Hundred and No/100 Dollars ($100.00), payable in a lump sum by the fifth (5th) day of the month following the month during which the inaccurate report was submitted or for any late Reports. You agree to maintain and furnish upon our request complete copies of federal and state income tax returns you file with the Internal Revenue Service and state tax departments, reflecting revenues and income of the Franchise or the corporation, partnership, or limited liability company that holds the Franchise. We reserve the right to require you to have audited or reviewed financial statements prepared by a certified public accountant on an annual basis. You agree to retain hard copies of all records for a minimum of four (4) years. The Joint…The Chiropractic Place™ Franchise Agreement
Accounting, Reports and Financial Statements. You agree to establish and maintain a bookkeeping, accounting, record keeping and data processing system conforming to the requirements and formats that we prescribe. You agree to furnish to us reports relating to your Store by the delivery method and in such form and content as we have the right to prescribe from time to time. These reports include, but are not limited to, the following:
Accounting, Reports and Financial Statements. Franchisee shall establish and maintain at its own expense a bookkeeping, accounting, and record keeping system conforming to the requirements prescribed by Company from time to time, including, without limitation, the preparation and retention of books and records. With respect to the operation and financial condition of the Residence licensed under this Agreement, Franchisee shall furnish to Company in the form prescribed by Company the following: A) By the twentieth (20th) day following each of Franchisee's monthly accounting periods, a report of the gross and Net Revenues of the Residence for the preceding accounting period and such other data, information, and supporting records as Company from time to time requires; B) By the last day of each month, a profit and loss statement for the preceding calendar month and year to date profit and loss statement and balance sheet; C) Within one hundred twenty (120) days after the end of Franchisee's fiscal year, a balance sheet and an annual profit and loss statement reflecting all year end adjustments for the Residence; D) Within thirty (30) days of their filing, exact copies of all state sales tax returns, and state financial reports; and E) Upon request, the portions of Franchisee's federal and state income tax returns which reflect the operation of the Residence. Each report and financial statement shall be verified and signed by Franchisee in the manner prescribed by Company. Company reserves the right to require Franchisee to have annual financial statements audited, prepared, or reviewed by certified public accountants.
Accounting, Reports and Financial Statements. 10.1 Franchisee will, at its expense, retain all records relating to the development and operation of the STORE. Franchisee will furnish to Company via the medium Company prescribes from time to time, in a form consistent with its then-current accounting practices and procedures: (a) weekly reports of the STORE’s sales, cost of goods sold, labor expense and number of transactions by 12:00 noon (Eastern Standard Time) on Tuesday of each week for the preceding week; (b) within thirty (30) days after the end of each month, an operating income statement of Franchisee for such month and fiscal year to date, prepared in accordance with generally accepted accounting principles consistently applied in the geographic area within which the STORE is located; (c) within forty-five (45) days after the end of each fiscal quarter, a balance sheet and income statement of Franchisee for such quarter and fiscal year to date, prepared in accordance with generally accepted accounting principles consistently applied in the geographic area within which the STORE is located; (d) within one hundred twenty days (120) days after the end of Franchisee’s fiscal year, an income statement for the STORE for such fiscal year (reflecting all year-end adjustments), and a statement of cash flow of the STORE, prepared in accordance with generally accepted accounting principles consistently applied in the geographic area within which the STORE is located; and (e) upon request by Company, such other data, reports, information and supporting records as Company may from time to time prescribe.
Accounting, Reports and Financial Statements. Manager shall perform such accounting and financial reporting services regarding the Project which is normally provided with respect to first-class office buildings in the area and any additional accounting and financial reporting services which are required pursuant to the documents and agreements governing Owner’s lending relationships (“Loan Compliance Requirements”). Without limiting the generality of the foregoing, Manager shall, if requested by Owner or to the extent required by the Loan Compliance Requirements (but in no event later than the twentieth (20th) day of each month), prepare and provide to Owner monthly operating reports for the immediately preceding month (each, a “Monthly Report”), including, (i) an unaudited year-to-date financial statement, (ii) statement of net operating income, (iii) summary of all leasing activity, (iv) a balance sheet, (v) a calculation of the Management Fee (as defined in Section 9.1 below), (vi) a comparison of monthly and year-to-date actual income and expense with the operating budget in the Annual Plan, and (vii) on a quarterly basis only, an analysis of any significant variances between budgeted and actual amounts. If requested by Owner or if required by the Loan Compliance Requirements, Manager shall also, within ninety (90) days after the end of any Fiscal Year, prepare and provide to Owner annual financial statements and, at Owner’s cost and expense, cause such statements to be audited. Upon request by Owner, Manager shall prepare and supply to Owner periodic cash flow forecasts. Manager shall also provide to Owner coordination for external and internal audits, tax planning and compliance in a manner and form mutually agreeable by Owner and Manager, and Manager shall provide additional information reasonably required by individual partners of Owner for their financial statement purposes for an amount equal to the cost of obtaining such work.
Accounting, Reports and Financial Statements. YOU AGREE TO ESTABLISH AND MAINTAIN AT YOUR OWN EXPENSE BOOKKEEPING, ACCOUNTING, AND RECORD KEEPING SYSTEMS CONFORMING TO THE REQUIREMENTS, DATA PROCESSING, AND REGISTER SYSTEMS AND FORMATS, IF ANY, WHICH WE PRESCRIBE FROM TIME TO TIME. THESE SYSTEMS MAY INCLUDE THE CAPABILITY OF BEING POLLED BY OUR CENTRAL COMPUTER SYSTEM, WHICH YOU AGREE TO PERMIT. WITH RESPECT TO THE OPERATION AND FINANCIAL CONDITION OF THE FRANCHISE, YOU AGREE TO FURNISH US IN THE FORM WE PRESCRIBE FROM TIME TO ESIO – Franchise Agreement 04/2012 B-17 TIME: (1) BY THE DAY OF EACH MONTH THAT WE MAY SPECIFY, A PROFIT AND LOSS STATEMENT FOR THE PRECEDING CALENDAR MONTH, AND A YEAR-TO-DATE PROFIT AND LOSS STATEMENT AND BALANCE SHEET; (2) WITHIN NINETY (90) DAYS AFTER THE END OF YOUR FISCAL YEAR, A FISCAL YEAR-END BALANCE SHEET, AND AN ANNUAL PROFIT AND LOSS STATEMENT FOR THAT FISCAL YEAR, REFLECTING ALL YEAR-END ADJUSTMENTS; AND (3) SUCH OTHER REPORTS AS WE PRESCRIBE FROM TIME TO TIME. YOU MUST SPECIFY AND SIGN EACH REPORT AND FINANCIAL STATEMENT REQUIRED BY THIS SECTION IN THE MANNER WE PRESCRIBE. IF WE DO NOT RECEIVE ANY REPORT BY THE ESTABLISHED DEADLINE, THEN YOU MUST PAY TO US A NON-REFUNDABLE LATE FEE OF $100.00. ADDITIONAL LATE FEES OF $100.00 PER WEEK WILL BE ASSESSED FOR EACH WEEK THEREAFTER THAT THE REPORT IS NOT SUBMITTED. YOU AGREE TO MAINTAIN AND FURNISH UPON OUR REQUEST COMPLETE COPIES OF FEDERAL AND STATE INCOME TAX RETURNS YOU FILE WITH THE INTERNAL REVENUE SERVICE AND STATE TAX DEPARTMENTS, REFLECTING REVENUES AND INCOME OF THE FRANCHISE OR THE CORPORATION, PARTNERSHIP, OR LIMITED LIABILITY COMPANY THAT HOLDS THE FRANCHISE. WE RESERVE THE RIGHT TO REQUIRE YOU TO HAVE AUDITED OR REVIEWED FINANCIAL STATEMENTS PREPARED BY A CERTIFIED PUBLIC ACCOUNTANT ON AN ANNUAL BASIS.
Accounting, Reports and Financial Statements. (a) Licensee shall keep true and accurate books of account with respect to each Mrs. Fields Store, in accordance xxxx Xxxxxx States generally accepted accounting principles, consistently applied. Within twenty (20) days after the end of each of Licensee's four week accounting periods, Licensee shall deliver to Licensor a written statement, prepared, signed and certified to be true and correct by Licensee's chief financial officer, or his designee, setting forth the Gross Sales of each Mrs. Fields Store, including sufxxxxxxx xxxormation and detail to confirm the calculations. In addition, Licensee shall furnish to Licensor, on such forms as Licensor may prescribe from time to time, annual reports showing each Mrs. Fields Store's Gross Sales, xxx xxx Xxxalty Payments, Phantom Payments and license fees paid (or, if not paid, that such fees are owed) pursuant to this Agreement, and such other information as Licensor may reasonably request. Each report and financial statement shall be signed and verified by an authorized officer of Licensee in the manner Licensor prescribes. Licensor shall have the right to disclose data derived from such reports.
Accounting, Reports and Financial Statements. Franchisee shall establish and maintain at its own expense a bookkeeping, accounting, and record keeping system conforming to the requirements prescribed by Franchisor from time- to-time, including, without limitation, the preparation and retention of books and records and the use of cash registers and a computerized accounting systems capable of transmitting data by Franchisee to Franchisor or systems capable of being electronically audited or polled by Franchisor (and Franchisee hereby expressly grants Franchisor the right to electronically audit or poll same). With respect to the operation and financial condition of the Franchised Restaurant, Franchisee shall furnish to Franchisor in the form and media prescribed by Franchisor the following:
Accounting, Reports and Financial Statements. LICENSE OWNER shall install and use at the Store the Computer System in such form as is specified by COMPANY from time to time and transmit to or permit the electronic collection of information by COMPANY through use of the Computer System. LICENSE OWNER, at its own expense, shall establish and maintain at the Store, (i) a telephone modem and dedicated line or other data transmission medium specified by COMPANY from time to time that COMPANY may use to access the Computer System, (ii) full, complete and accurate records and reports, and (iii) if required by COMPANY, computer diskettes and databases in the form specified by COMPANY pertaining to the operation of the Store, including, but not limited to, site reports on the Store prepared by LICENSE OWNER and submitted to COMPANY, the Site Agreement, supervisory reports relating to Store operations, a bookkeeping, accounting, recordkeeping and records retention system conforming to the requirements prescribed by COMPANY from time to time (including, without limitation, requirements for a general ledger system which utilizes the standard chart of accounts prescribed by COMPANY from time to time and for timely entry of information into data bases of the Computer System and periodic printouts of reports generated from the Computer System) and information relating to employee turnover. Each transaction of the Store shall be processed on the Computer System in the manner prescribed by COMPANY from time to time. COMPANY shall have, at all times, the right to access and retrieve information from and data processed on the Computer System with respect to the Store, and LICENSE OWNER shall take such action as may be necessary to provide such access to COMPANY. With respect to the operation and financial condition of the Store, LICENSE OWNER shall adopt, until otherwise specified by COMPANY, a fiscal year consisting of thirteen (13) four-week accounting periods which coincides with COMPANY's then current fiscal year, as specified by COMPANY and furnish to COMPANY or its designee in the form and format prescribed by COMPANY from time to time, including, without limitation, via computer diskette and/or restated in accordance with COMPANY's financial reporting periods consistent with COMPANY's then-current financial reporting periods and accounting practices and procedures:
