F2M6 - SEC Reporting Flashcards
Form 10-K
What is it, who files and when? Audited or not audited? Prepared using what standard?
US registered companies, annually, audited, GAAP
Form 10-Q
What is it, who files and when? Audited or not audited? Prepared using what standard?
Interim financial report,
US registered companies, quarterly, not audited, GAAP
Form 11-K
What is it, who files and when?
Report of company’s Employee Benefit Plans,
US registered companies, annually
Form 6-K
What is it, who files and when? Audited or not audited? Prepared using what standard?
Interim financial report,
Foreign private companies, semi-annually, unaudited, GAAP???
Form 20-F
What is it, who files and when? Audited or not audited? Prepared using what standard?
Annual Financial Statement,
Non-US companies registered with SEC, annually, audited, GAAP or IFRS is okay
Form 40-F
What is it, who files and when? Audited or not audited? Prepared using what standard?
Annual Financial Statement,
Canadian companies registered with SEC, annually, audited, GAAP or IFRS is okay
Form 8-K
What is it, Prepared using what standard?
Report major corporate events. GAAP
Forms 3, 4, 5
Who files them?
Directors, officers or beneficial owners of more than 10% of a class of equity
The 4 examples given of major corporate events and what form they are reported on?
Form 8-K examples:
- corporate asset acquisitions or disposals
- changes in securities and trading markets
- changes in accountants or financial statements
- changes in corporate governance or mgmt
Filing deadlines for Form 10-K and Form 10-Q (3)
Large Accelerated Filers = 60 days, 40 days
Accelerated Filers = 75 days, 40 days
All Other Filers = 90 days, 45 days
SEC def: Large Accelerated Filer
Issuer with worldwide market value of outstanding common equity held by non affiliates of $700 million or more as of the last business day of the issuer’s most recently completed second fiscal quarter
SEC def: Accelerated Filer
Issuer with worldwide market value of outstanding common equity held by non affiliates of $75 million or more but less than $700 million
What is Regulation S-X?
Sets forth the form, content and requirements for interim and annual financial statements
Audited or Not: Interim Financial Statements?
Not audited, but reviewed by CPA
Audited or Not: Annual Financial Statements?
Audited by CPA
Interim FS - what are included?
BS - End of most recent fiscal quarter
BS - End of the previous fiscal year
BS - End of corresponding previous year’s quarter,
ONLY if necessary
IS - Period btwn end of most recent fiscal quarter and end of previous fiscal year
IS - Corresponding previous year’s interim FS to compare to
IS - 12-month cumulative periods btwn end of most recent fiscal quarter and last year and thier corresponding previous year’s 12-month period,
NOT required
CF - same fact pattern as IS
Are condensed FS acceptable for Interim FS?
Yes.
Things unique to Interim FS (2)
- Because of annual FS, they can omit:
- summary of significant accounting policies
- details of accounts that have not changed since the end of the last fiscal year (since their last 10-K filing)
- Interim FS must include:
- Material contingencies
- Events subsequent to the fiscal year that have a significant impact (changes in accounting policies, estimates, in long-term contracts, new borrowings)
Form 10-K: How many CF statements are required?
3 (the 3 years preceding the most recent audited balance sheet)
