SEC Reporting Requirements

Question 1

Securities Offering Registration Statement

Answer 1

When company issues new securities, it is required to submit registration statement that includes:

1. Disclosures about securities
2. Relationship of new securities
3. Info similar to annual filing
4. Audited FS
5. Description of business risk factors

Question 2

Filing deadline for 10-K

Answer 2

Large accelerated filers: 60 days after end of fiscal year
Accelerated filers: 75 days after end of fiscal year
All other registrants: 90 days after end of fiscal year

Question 3

Large accelerated filer

Answer 3

Issuer with worldwide market value of outstanding common equity held by nonaffiliates of $700 million +

Question 4

Accelerated filer

Answer 4

Issuer with worldwide market value of outstanding common equity held by nonaffiliates of $75 million or more but less than $700 million

Question 5

Form 10-Q

Answer 5

Large accelerated and accelerated filed: 40 days after end of fiscal quarter
Other: 45 days after end of fiscal quarter

Question 6

Form 11-K

Answer 6

Annual report of company’s employee benefit plan

Question 7

Forms 20-F and 40-F

Answer 7

Filed annually by foreign private issuers
40-F: Canadian companies
20-F: Other non-US registrants

Question 8

Form 6-K

Answer 8

Filed semi-annually by foreign private issuers

Question 9

Form 8-K

Answer 9

Report major corporate events

Question 10

Forms 3, 4, and 5

Answer 10

Required to be filed by directors, officers, or beneficial owners of more than 10% of a class of equity securities of a registered company

Question 11

Regulation S-X

Answer 11

SEC sets forth the form and content of and requirements for interim and annual FS to be filed with the SEC

Question 12

Key provisions of Regulation S-X

Answer 12

1. Interim FS must be reviewed by independent public accountant (2 b/s dates, 3 I/s dates, 2 CF dates)
2. Annual FS must be audited (2 yr b/s, 3 yr I/s and CF)

Question 13

XBRL

Answer 13

Extensible Business Reporting Language

Royalty-free, open specification for software that uses SML data tags to describe financial info for business and financial reporting

Question 14

Tag

Answer 14

Machine-readable code that gives a standard definition for each line item in an IS, CF statement, BS, or other financial or nonfinancial data

Provide contextual info that allow data to be recognized and processed y software

Question 15

SEC’s Interactive Data Rule

Answer 15

Requires US public companies and foreign private issuers that use US GAAP/IFRS to present FS and any applicable FS schedules in an exhibit prepared using XBRL

Question 16

What must tagged disclosures include?

Answer 16

Primary FS, notes, and FS schedules

Question 17

If there is an absence of seasonal fluctuations, what additional period would an entity need to present in the balance sheets on Form 10-Q?

Answer 17

The end of preceding fiscal year