F2 M6 SEC Reporting Requirements Flashcards
In general, an enterprise preparing interim financial statements should:
A. Use the same accounting principles following in preparing its latest annual financial statements
B. Defer recognition of seasonal revenue
C. Disregard permanent decreases in the market value of its inventory
D. Allocate revenues and expenses evenly over the quarters, regardless of when they actually occurred
A
For interim reporting purposes, costs that benefit multiple periods should be _____.
Allocated equally to those periods
Under Regulation S-X, an entity’s annual financial statements filed with the SEC should include, at a minimum, two ____.
Balance sheets
What is the maximum number of days after the company’s fiscal year end that the company has to file form 10-K with the SEC?
75 days
A company is required to file quarterly financial statements with the SEC on form 10-Q. The company operates in an industry that is not subject to seasonal fluctuations that could have a significant impact on its financial condition. In addition to the most recent quarter end, for which of the following periods is the company required to present balance sheets on Form 10-Q?
A. The end of the preceding fiscal year and the end of the corresponding fiscal quarter of the preceding fiscal year
B. The end of the preceding fiscal year and the end of the prior two fiscal years
C. The end of the preceding fiscal year
D. The end of the corresponding fiscal quarter of the preceding fiscal year
C, due to the absence of season fluctuations, the end of the preceding fiscal year is appropriate
This form filed with the SEC reports on major corporate events, including corporate asset acquisitions/disposals, accountant changes, financial statement changes, management changes, changes in securities, etc.
Form 8-K
An XBRL financial statement exhibit is required to be submitted with all of the following SEC filings, except: A. Form 6-K B. Forms 3, 4 and 5 C. Form 20-K D. Form 10-K
B
What does the acronym MD&A stand for?
Management’s discussion and analysis
This form contains information regarding the filer’s ownership of the entity’s securities (it doesn’t include financial statements)
Form 3
A company that is a large accelerated filer must file its Form 10-Q with the SEC within how many days after the end of the period? A. 40 days B. 30 days C. 60 days D. 45 days
A, 40 days for large corps
45 days for small corps
Regulation ___ sets forth the form and content of and requirements for interim and annual financial statements to be filed with the SEC.
S-X
Regulation ___ sets forth rules governing electronic filings.
S-T
Regulation ___ sets forth the disclosure requirements for small business issuers.
S-B
Regulation ___ sets forth non-financial reporting requirements for various SEC filings used by public companies
S-K
What amount of a gain or loss from a sale of fixed assets should be reported and when?
The entire amount should be reported in the period (quarter) incurred
Form ___ is filed semiannually by foreign private issuers and contains unaudited financial statements.
Form 6-K
Form ___ is filed quarterly by US registered companies contains unaudited financial statements.
Form 10-Q
In preparing its interim financial statements, assuming that no changes in accounting principle were implemented, Pro Tem Corp would apply generally accepted accounting principles:
A. Projected for use in future years
B. Used in the most recent annual report
C. Applicable to interim financial statements
D. Projected for use in the current year
B, generally accepted accounting principles that were used in the most recent annual report of an enterprise should be applied to interim financial statements of the current year unless a change in account principle is adopted in the current year
Form 10-K filing deadlines:
Large accelerated = __ days
Accelerated = __ days
All other = __ days
60 days
75 days
90 days
Form 10-Q filing deadlines:
Large accelerated = __ days
Accelerated = __ days
All other = __ days
40 days
40 days
45 days
Form ___ is the annual report of a company’s employee benefit plans
Form 11-K
Form ___ is compared as the Non-US Form 10-K
Form 20-F
Form ___ is compared as the Canadian Form 10-K
Form 40-F
Form ___ 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.
Forms 3, 4 & 5
