Often, cash flow statement and statement of stockholders’ equity are omitted. Some notes to the financial statements also may be omitted. SEC Reports Form 10-K Annual Report: Due within 90 days of the fiscal year-end. Is the annual report that publicly traded companies must file with the SEC, Contains audited financial statements. Form 10-Q Quarterly Report: Due within 45 days of the end of the quarter. Is the quarterly report that publicly traded companies must file with the SEC. Financial statements can be unaudited Form 8-K Current Report: Due within 15 days of the major event date. Is used by publicly traded companies to disclose any material event not previously reported that is important to investors Financial statements can be unaudited. Financial Statement Formats Asset section of the balance sheet: Current assets are assets that will be turned into cash or expire (be used up) within the longer of one year or the operating cycle. Property, plant and equipment include assets with useful lives of more than one year acquired for use in the business rather than for resale. The amount is reported net of accumulated depreciation. Intangible assets have no physical existence and a long life. They include patents, copyrights, trademarks, etc. Liability section of a classified balance sheet: Current liabilities are obligations that will be paid with current assets, normally within one year. Long-term liabilities are debts that have maturity dates extending beyond one year from the balance sheet date. Stockholders’ equity section of a classified balance sheet. Contributed capital is often shown in two separate accounts: Common stock is the money earned when the shares are new on the market. Par value is a legal amount per share established by the board of director; it established the minimum amount stockholder must contribute and had no relationship to the market price of the stock. Common stock is the Par value * amount of shares sold. Additional paid-in capital is the amount of contributed capital less the par value of the stock Retained earnings are the total earnings of the company less the total dividends declared since inception of operations.
Often, cash flow statement and statement of stockholders’ equity are omitted. Some notes to the financial statements also may be omitted. SEC Reports Form 10-K Annual Report: Due within 90 days of the fiscal year-end. Is the annual report that publicly traded companies must file with the SEC, Contains audited financial statements. Form 10-Q Quarterly Report: Due within 45 days of the end of the quarter. Is the quarterly report that publicly traded companies must file with the SEC. Financial statements can be unaudited Form 8-K Current Report: Due within 15 days of the major event date. Is used by publicly traded companies to disclose any material event not previously reported that is important to investors Financial statements can be unaudited. Financial Statement Formats Asset section of the balance sheet: Current assets are assets that will be turned into cash or expire (be used up) within the longer of one year or the operating cycle. Property, plant and equipment include assets with useful lives of more than one year acquired for use in the business rather than for resale. The amount is reported net of accumulated depreciation. Intangible assets have no physical existence and a long life. They include patents, copyrights, trademarks, etc. Liability section of a classified balance sheet: Current liabilities are obligations that will be paid with current assets, normally within one year. Long-term liabilities are debts that have maturity dates extending beyond one year from the balance sheet date. Stockholders’ equity section of a classified balance sheet. Contributed capital is often shown in two separate accounts: Common stock is the money earned when the shares are new on the market. Par value is a legal amount per share established by the board of director; it established the minimum amount stockholder must contribute and had no relationship to the market price of the stock. Common stock is the Par value * amount of shares sold. Additional paid-in capital is the amount of contributed capital less the par value of the stock Retained earnings are the total earnings of the company less the total dividends declared since inception of operations.
financial_accounting_-_summary.docx