M2 10-K,10-Q,8-K Flashcards
EDGARS
Electronic data gathering, analysis and retrieval system. Available online to the public
What information does the 10K provide
- risk factors relating to the business
- financial and operating results for the year
- The MD&A (management discussion and analysis)
What is the filing deadline for large, accelerated filers
60 days
(700m market value & greater)
What is the deadline for accelerated filers
75 days
(75m to less than 700m & 100m revenue)
What is the filing deadline for registrants making less than 100m revenue?
90 days
What components make up Part II item 7 MD&A of financial condition and results of operations?
-Summarized financial and operating results, trends, risks, and uncertainties
-material changes and uncertainties relative to the prior period
-critical accounting estimates and assumptions
What is included in quantitative and qualitative disclosures about market risk?
Risk of loss in value of financial instruments due to change in
- Interest rates
- Exchange rates
- Other market related factors (recession, inflation, supply chain, war/sanctions)
What 3 options are available for quantitative DISCLOSURES required in part II item 7A quantitative and qualitative disclosures about market risk
- Tabular presentation of information related to market risk sensitive instruments
- Sensitivity analysis disclosures
- Value at risk disclosures
What qualitative disclosures are included in part II. 7A
-primary market risk exposures
-the management of these exposures
-changes from last year and expectations for future periods
What is included in part II, item 8 financial statements and supplementary data
Audited financial statements and accompanied notes
- 2 years of balance sheets
- 3 years of income statements (and statement of comprehensive income)
- 3 years of statement of cash flows
-3 years changes in owners’ equity
The auditors report
Certifications from the ceo and cfo
When is the 10-Q filed
The first 3 quarters of every fiscal year
What is the filing deadline for a 10-Q
40 days (large accelerated & accelerated filers)
45 days for all other registrants
How does a 10-Q differ from a 10-K
-Statements may be presented in a condensed format & should reflect adjustments required to fairly state results.
-If any adjustments occur, they must state whether they are normal recurring or not
-If they are not normal reoccurring, they should include a detailed description of the nature and amounts of adjustments
-They are unaudited
How should the 10-Q balance sheet be presented
- most recent fiscal quarter
- prior fiscal year
- prior QTD (if necessary)
How should the 10-Q income statement be presented
- QTD
- YTD
- Rolling Twelve Month (optional)
