F2 M5 Flashcards
Form 10k must be filed annually by U.S. publicly traded companies. Form 10k filing
deadline is 60 days after the end of the year fiscal year for large accelerated filers, 75
days for accelerated filers (medium comp), and 90 days for everyone else
Accelerated filers: Between $75-$700 million of outstanding common equity (stocks)
Form 10Q must be filed quarterly by U.S. comps. The filing deadline is 40 days after the
end of the fiscal quarter for large accelerated and accelerated filers and 45 days for
everyone else
This form contains all unaudited FS prepared by U.S. GAAP, interim period MD&A, and
certain disclosures
Form 8-K: Filed to report major corporate events such as corporate asset acquisition or
disposals, changes to FS, changes in CFOs, and more
Form 3, 4, and 5: Filing required by directors, officers, or beneficial owners of more than
10% of a class of equity securities of a registered company
Regulation S-X is made by the SEC and it describes the form, content, and reqs for
interim and annual FS statements to be filed to SEC
Interim FS can be condensed
Interim disclosures should be sufficient. They may omit the summary of significant
accounting policies
Audited FS must include BS for the two most recent fiscal years and statements of
income, changes in owners’ equity, and CF for each of the 3 fiscal years preceding the
date of the most recent audited BS (BS is 2 and all others are 3)
XBRL is another req by SEC. It stands for eXtensible Business Reporting Language
XBML tells computers how to interpret the context of FS info submitted by companies
SEC Interactive Data Rule requires U.S. public companies and foreign entities that use
GAAP or IFRS to present FS in an exhibit prepared using XBRL
For interim reporting, the same accounting principles that were used in the most recent
annual report must also be used
