Company: BRID
Filing Date: 2025-01-29
Form Type: 10-K
Source: 0001493152-25-004182
Chunk: 307

Company: BRIDGFORD FOODS CORP
Filing Date: 2025-01-29
Form: 10-K
Item: Item 3
Chunk 307
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 amounts
of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported
revenues and expenses during the respective reporting periods. Actual results could differ from those estimates. Amounts estimated related
to liabilities for self-insured workers’ compensation, employee healthcare and pension benefits are especially subject to inherent
uncertainties and these estimated liabilities may ultimately settle at amounts not originally estimated. We record promotions, returns
allowances, bad debt and inventory allowances based on recent and historical trends. Management believes its current estimates are reasonable
and based on the best information available at the time. To the extent there are material differences between the estimates and the actual
results, future results of operations could be affected.

Disclosure concerning our policies on credit risk,
revenue recognition, cash surrender or contract value for life insurance policies, deferred income tax and the recoverability of our long-lived
assets are provided in Notes 1 and 4 of the Notes to the Consolidated Financial Statements included in this Report.

Recently Issued Accounting Pronouncements and
Regulations

Various accounting standard-setting bodies have
been active in soliciting comments and issuing statements, interpretations, and exposure drafts. For information on new accounting pronouncements
and the impact, if any, on our financial position or results of operations, see Note 1 of the Notes to the Consolidated Financial Statements
included within this Report.

Item 7A. Quantitative and Qualitative Disclosures
About Market Risk

Not applicable for a smaller reporting
company.

Item 8. Consolidated Financial Statements
and Supplementary Data

The Consolidated Financial Statements
required by this Item are set forth in Part IV, Item 15 of this Report.

Item 9. Changes in and Disagreements With
Accountants on Accounting and Financial Disclosure

Not applicable.

 17 

Item 9A. Controls and Procedures

Evaluation of disclosure
controls and procedures

Disclosure controls and procedures
are designed to help ensure that information required to be disclosed by us in our Exchange Act reports is recorded, processed, summarized
and reported within the time periods specified in the SEC’s rules, regulations and forms, and that such information is collected
and communicated to our management, including our Chairman of the Board and Chief Financial Officer, as appropriate to allow timely decisions
regarding required disclosure.

Our management, with the participation
and under the supervision of our Chairman of the Board and Chief Financial Officer, has evaluated the effectiveness of our disclosure
controls and procedures (as defined in Exchange Act