SEC reporting Requirements

Question 1

What information does management discussion & analysis (MD&A) cover?

Answer 1

The firm's financial condition
Changes in financial condition
Results of operations
Liquidity
Capital resources and operations
Indications in trends, significant events, and uncertaintie

Question 2

Within how many days after the end of the quarter does a company need to file the 10‐Q?

Answer 2

40 days for large accelerated filers and accelerated filers

45 days for non‐accelerated filers

Question 3

What does the Securities Act of 1934 do?

Answer 3

It regulates the trading of securities after they are issued and requires periodic reporting.

Question 4

How many years of balance sheet data are required by the Securities and Exchange Commission (SEC)?

Answer 4

Two years are required.

Question 5

Where are the formal rules of the Securities and Exchange Commission (SEC) found?

Answer 5

In the Code of Federal Regulations.

Question 6

What information does management discussion & analysis (MD&A) provide?

Answer 6

A discussion of important aspects of the firm from the viewpoint of management

Question 7

How many years of cash flow data are required by the Securities and Exchange Commission (SEC)?

Answer 7

Three years are required.

Question 8

How many years of income statement data are required by the Securities and Exchange Commission (SEC)?

Answer 8

Three years are required.

Question 9

What does registration with the Securities and Exchange Commission (SEC) require?

Answer 9

Extensive disclosures about the company, management, and the intended use of the proceeds from the issue

Question 10

What information does the 8‐K provide?

Answer 10

Significant events affecting the company

Question 11

Does the Sarbanes‐Oxley Act allow auditors to complete nonaudit services for clients?

Answer 11

No, the Sarbanes‐Oxley Act does not allow this.

Question 12

What are the steps in the offering process?

Answer 12

Issuer
Underwriter
Dealer
Public

Question 13

How many years of selected financial data are required by the Securities and Exchange Commission (SEC)?

Answer 13

Five years are required.

Question 14

What law prohibits the bribing of foreign officials?

Answer 14

The Foreign Corrupt Practices Act of 1977

Question 15

Within how many days after the fiscal year end of a large accelerated filer does a 10‐K need to be filed?

Answer 15

60 days