Financial Statement
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Sample Financial Statement
Famous Brands
t^q^'*^^^ <&m^ **> TCBtC
MRS. FIELDS FAMOUS BRANDS, LLC
CONSOLIDATED FINANCIAL STATEMENTS
FOR THE FISCAL YEARS ENDED DECEMBER 31,2005,
JANUARY 1,2005 AND JANUARY 3, 2004
KPMG LLP
Suite 1500
15 West South Temple
Salt Lake City, UT 84101-9901
Report of Independent Registered Public Accounting Firm
The Board of Managers
Mrs. Fields Famous Brands, LLC:
We have audited the accompanying consolidated balance sheets of Mrs. Fields Famous Brands, LLC (see Note 1) as of December 31, 2005 and January 1, 2005, and the related consolidated statements of operations and comprehensive income (loss), member's deficit and cash flows for the fiscal years ended December 31, 2005, January 1, 2005, and January 3, 2004. In connection with our audits of the consolidated financial statements, we also have audited financial statement schedule II. These consolidated financial statements and financial statement schedule are the responsibility of the Company's management. Our responsibility is to express an opinion on these consolidated financial statements and financial statement schedule based on our audits.
We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.
As described in Note 1 to the consolidated financial statements, the accompanying consolidated financial statements prior to formation of the Company on March 16, 2004 were prepared solely to present the assets contributed and the liabilities assumed pursuant to the formation of the Company through the combination of certain assets and liabilities of Mrs. Fields' Original Cookies, Inc. and subsidiaries (MFOC) and all of the assets and liabilities of TCBY Systems, LLC and subsidiaries, and are not intended to be a complete historical presentation of all the assets and liabilities of MFOC.
In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the consolidated financial position of Mrs. Fields Famous Brands, LLC as of December 31, 2005 and January 1, 2005, and the results of their operations and their cash flows for the fiscal years ended December 31, 2005, January 1, 2005, and January 3, 2004 in conformity with U.S. generally accepted accounting principles. Also in our opinion, the related financial statement schedule, when considered in relation to the basic consolidated financial statements taken as a whole, present fairly, in all material respects, the information set forth therein.
Salt Lake City, Utah March 17,2006
KPMG LLP, a U.S. limited liability partnership, is Hie U.S. member firm of KPMG International, a Swiss cooperative.
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The original file could not be completely converted to text. Below is an excerpt from the file. The original file can be downloaded at the link above.