i)Basis of Presentation and Principles of Consolidation:
The financial statements of the company are consolidated and are prepared in accordance to US GAAP and as per rules of Security Exchange Commission. The consolidated Statements consists of the accounts of Panera Bread Company and its wholly owned subsidiaries both direct and indirect.
The fiscal year of the company is reported to be last tuesday of every december.
iii)Use of Estimates:
The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements ...