XML 27 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
(1) Basis of Presentation
6 Months Ended
Jun. 29, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Business Description and Basis of Presentation [Text Block]

(1)       Basis of Presentation

 

We, Famous Dave's of America, Inc. (“Famous Dave's” or the “Company”), were incorporated in Minnesota on March 14, 1994. We develop, own, operate and franchise restaurants under the name "Famous Dave's". As of June 29, 2014, there were 194 Famous Dave's restaurants operating in 34 states, the Commonwealth of Puerto Rico and 1 Canadian province, including 53 company-owned restaurants and 141 franchise-operated restaurants. An additional 58 franchise restaurants were committed to be developed through signed area development agreements as of June 29, 2014.

 

We prepared these consolidated financial statements in accordance with Securities and Exchange Commission (“SEC”) Rules and Regulations. These unaudited financial statements represent the consolidated financial statements of Famous Dave's and its subsidiaries as of June 29, 2014 and December 29, 2013 and for the three and six month periods ended June 29, 2014 and June 30, 2013, respectively. The information furnished in these financial statements includes normal recurring adjustments and reflects all adjustments, which are, in our opinion, necessary for a fair presentation. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. These consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in our Form 10-K for the fiscal year ended December 29, 2013 as filed with the SEC.

 

Due to the seasonality of our business, revenue and operating results for the three and six months ended June 29, 2014 are not necessarily indicative of the results to be expected for the full year.

 

Reclassifications Certain reclassifications have been made to prior year amounts to conform to the current year's presentation.

 

In order to conform with current year balance sheet classifications, certain reclassifications resulted in the following changes to the consolidated statement of cash flows for the six months ended 2013 from the previously reported consolidated statement of cash flows. These changes related to decreases caused by a tax benefit for equity awards issued of $746,000 and other current liabilities of $21,000 which were offset by an increase in prepaid expenses and other current assets of $767,000. These reclassifications did not impact the cash flows provided by operating activities.