Question 1

Which form is not required to include audited financial statements?

Accepted Answer

Form 6-K is filed semi-annually by foreign private issuers and contains unaudited financial statements. Form 10-Q, which is filed quarterly by U.S. registered companies, also contains unaudited financial statements.

Question 2

Under Regulation S-X:

Accepted Answer

Under Regulation S-X, an entity's audited financial statements filed with the SEC should include balance sheets for the two most recent fiscal years and the statements of income, changes in owners' equity, and cash flows for the three fiscal years preceding the date of the most recent audited balance sheet.

Question 3

What is the maximum number of days after the company's fiscal year end that the company has the file Form 10-K with the SEC?

Accepted Answer

In 2002, the SEC approved a deadline of 75 days for Form 10-K "accelerated filer." An accelerated filer is an issuer: 1. With a public float of greater than or equal to $75 million, 2. Subject to the Securities Exchange Act's reporting requirements for greater than or equal to 12 months., 3. That pervasively filed at least 1 report, 4. Which is not eligible to file quarterly and annual reports on Form 10-QSB and 10-KSB.

Question 4

For which period is a company required to present balance sheets on Form 10-Q?

Accepted Answer

Due to the absence of seasonal fluctuations, the en dog the preceding fiscal year is the appropriate period to include in addition to the most recent quarter end.

Question 5

An XBRL Financial Statement exhibit is required to be submitted with all of the following SEC filings:

Accepted Answer

An XBRL Financial statement exhibit is required to be submitted with a filer's 10-K, 20-F, or 6-K because these filings include the filer's financial statements. Form 3,4, and 5 are required to be filed by directors, officers, or beneficial owners of more than 10% of a class of equity securities of a registered company. These forms do not contain the registered company's financial statements because they are not filed by the company, and therefore are not required to present the company's financial statements in a n exhibit prepared using XBRL.

Question 6

Not required to be presented in an exhibit prepared using XBRL when a filer submits Form 10-K to the SEC:

Accepted Answer

The MD&A is not required to be presented in an exhibit prepared using XBRL. The SEC's Interactive Data Rule requires a U.S. public company submitting a Form 10-K to present financial statements, including the balance sheet, statement of comprehensive income, and all footnotes, and any applicable financial statement schedules, in an exhibit prepared using XBRL.

Question 7

Under Regulation S-X, an entity's interim financial statements filed with the SEC should include:

Accepted Answer

Interim financial statements filed with the SEC would not include a statement of cash flows for the most recent fiscal quarter, but should include statements of cash flows for the period between the end of preceding fiscal year and het end of the most recent fiscal quarter, and for the correspond period for the preceding fiscal year. The financial statements may also present statements of cash flows for the cumulative 12 months period ended during the most recent fiscal quarter and for the corresponding preceding period.

Question 8

AN entity has modified liability for its interactive date (XBRL) exhibits for a period:

Accepted Answer

XBRL exhibits submitted to the SEC are subject to modified liability for 24 months from the time the filer is required to submit interactive data files. The modified liability provision will terminate completely on October 31, 2014, but will end sooner than this date for most entities.

Question 9

10-K

Accepted Answer

Is the annual report of a U.S. registered company and would contain financial statements.

Question 10

20-F

Accepted Answer

Is the annual report of non-U.S. registrant and would contain financial statements.

Question 11

11-K

Accepted Answer

Is the annual report of an entity's employee benefit plan and owl include the financial statements of the benefit plan.

Question 12

A company that is a large accelerated filer must file its Form 10-Q with the U.S. SEC within how many days after the end of the period.

Accepted Answer

Form 10-Q is quarterly report filed within 40 days for large corporations and 45 days for small corporations after the end of the first three quarters of each fiscal year. It must contain reviews of interim financial information by an independent CPA.

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F1.7 SEC Reporting Requirements Flashcards

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