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Flashcards in SEC Deck (14):
0

What are the main pronouncements published by the SEC?

Financial Reporting Releases (FRR)

1

Since 2008, the SEC has permitted foreign private issuers to file their financial statements using?

IFRS as issued by the IASB

2

SEC definition of a foreign private issuer

Any issuer other than a foreign govt EXCEPT an issuer where more than 50% of the O/S voting securities are owned by US resident and the majority of its executives are US citizens/residents

3

What do Regulations S-X govern?

The form and content of F/S and F/S disclosures

4

What does Regulations S-K govern?

The form and content of NON financial statement disclosures.

5

Nonfinancial statement disclosures

Description of the business
Description of stockholder matters
Managements discussion and analysis (MD&A)
Changes in & disagreements w/accountants
Information on directors & mght

6

Large accelerated filer

Equity held by non affiliates of $700 million or more

7

Accelerated filer

Equity held by nonaffiliates that's is between $75 and $700 million

8

Non-accelerated filer

Equity held by nonaffiliates less than $75 million

9

Filing deadlines for 10-K

Large accelerated - 60 days after YE
Accelerated- 75 days after YE
Non-accelerated - 90 days after YE

10

Filing deadlines for 10-Q

Large accelerated - 40 days after quarter end
Accelerated- 40 days after quarter end
Non-accelerated - 45 days after quarter end

11

What's required to be provided upon initial registration of a security?

2 years balance sheets
3 years Income statements
Statements of cash flows
Shareholders equity

12

What part of Form 10-K are audited financial information?

Part II, Item 8

13

Disclosure of risks and uncertainties

Required by Form S-K to be included in the MD&A