Question

In: Accounting

Briefly describe (not just list) two filings that a public company is required to file with...

Briefly describe (not just list) two filings that a public company is required to file with the SEC.

Solutions

Expert Solution

(1)

Form 10-K

Comprehensive analysis of the company is provided to investors in form 10-K. It includes audited financial statements which are more detailed. Companies are required to submit annual filing in form 10-k within 90 days of the end of their fiscal year. The Form 10-K is comprised of several parts:

  • Financial Statements
  • Business Summary
  • Management Discussion and Analysis (MD&A)
  • Additional Sections

(2)

Form 10-Q

Summary version of Form 10-K is called as Form 10-Q. Company's latest developments and future planning are detailed in it. The financial statements in Form 10-Q are unaudited. The 10-Q Form is reauired to be submitted within 45 days of the end of each of the first three quarters of a company's fiscal year

(3)

Form 8-K

Companies are required to submit Form 8-K if a major company event occurs after the filing of Form 10-K or Form 10-Q.
Followinf are the Major company events necessitating the filing of Form 8-K:

  • bankruptcy
  • acquisition or disposition of assets
  • departures or appointments of executives.

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