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In: Accounting

Go to the website www.sec.gov and, under the Filings heading, click on “Filings” and then click...

Go to the website www.sec.gov and, under the Filings heading, click on “Filings” and then click on “Company Filing Search.” Enter the name of a well-known company such as Facebook. A list of available documents should be shown for that company. Required Using these available documents, answer the following questions: 1. Has the company filed an 8–K during the most recent time period? If so, open that document and determine the reason that the form was filed with the SEC. 2. Has the company filed a 10–K during the recent time period? If so, open that document and determine the total reported net income for the latest period of time. 3. Has the company filed a 10–Q during the most recent time period? If so, open that document and determine what issues were addressed and disclosed.

Solutions

Expert Solution

1. Facebook Inc had filled the Form 8-k Lastest On 25/07/2018.

It was filled to intimate the investor that they are going to discuss the Results of operation and financial condition through conference call as on 30/06/2018. Further it states that Facebook will make the reference to no GAAP financial statments in press realease and conference call both. Reconciliation is already submitted through press realease.

Facebook uses investor.fb.com and newsroom.fb.com for disclosure for non public information and complying with regulations.

2. Facebook filled 10 K as on 01/02/2018.

Net Reported income 2017 - $ 15,934, 2016 - $ 10,217, 2015- $ 3,688.

3. Facebook filled 10 Q on 25/06/2018

Issues addressed are :

Management discussion and anylasis on the financial statements and results of operation : Under whiich it was disclosed about the executive overview of the second quarter result with respect to user growth, financial results. It also specify the trends in their user metrics in terms of Daily active users, Monthly active users. It also discussed the components of Results of opereation taking into account the revenues and cost of revenues and other operating expenses,

Futher it addressed the quantitative and Qualitative disclosure of the market risk - Foreign currency Exchange risk, interest rate sensitivity.

Adding further it also disclose the controls and procedures with respect to evaluation of disclosure controls and procedure, changes in internal controls, limitations on the effectiveness of controls and procedures.

Further in the section of other information it specify the risk factors with respect to risk relating to their business and industry, risk relating to the ownership of class A stock.

ekkarill92 answered 1 year ago
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