F1-SEC Reporting

Question 1

Describe the Forms 10K and 10Q. What level of assurance must be provided with the FS submitted in these forms?

Answer 1

10-k: Filed annually by U.S. registered companies. Includes a summary of financial data, MD&A, and AUDITED FS prepared using U.S. GAAP
10-Q: Filed quarterly by U.S. registered companies. Includes UNAUDITED (reviewed) FS, interim MD&A, and certain disclosures

Question 2

What are the SEC “Main” reports and when are they due for large accelerated filers, accelerated filers and all other filers?

Answer 2

First Form: Securities offering registration statements

• 10-K–Annual report, 60, 75, 90 days
• 10-Q–Quarterly report, 40, 45, 45 days
• 11-K–Annual employee benefits plan
• 20F or 40F–Annual report Foreign Private issuers (GAAP not a requirement)
• 6-K–Semi-Annual Foreign private issuers
• 8-K–Major Corporate events (acquisitions, disposals etc)
• Forms 3, 4 &5–By directors, officers, owners of more than 10% of a class of securities

Question 3

For SEC Reporting, what are the Interim Statement Balance Sheet requirements?

Answer 3

Balance sheets for:

• End of most recent fiscal quarter
• End of preceding year

Question 4

For SEC Reporting, what are the Interim Statement Income Statement requirements?

Answer 4

Income statement for:

• End of most recent fiscal quarter
• Period between end of preceding fiscal year and end of most recent fiscal year
• Corresponding periods for preceding fiscal year

Question 5

For SEC Reporting, what are the Interim Statement Statement of Cash Flow requirements?

Answer 5

Cash flow statements for:

• Period between end of preceding fiscal year and the end of most recent fiscal quarter
• Corresponding period for preceding fiscal year

Question 6

What are the requirements for Annual SEC reports?

Answer 6

• Must be audited (GAAP)
• BS (2 years)
• IS and CF 3 years