Definition
The term Form 10-K refers to an annual report that summarizes the business and financial performance of a company. Form 10-K is a detailed document, which is produced by companies at the close of their fiscal year. The document contains a large number of audited financial statements that publically-traded companies are required to file with the Securities and Exchange Commission each year.
Explanation
Publically-traded companies are required by federal securities laws to disclose certain operating and financial information on an annual basis. Form 10-K is filed with the Securities and Exchange Commission (SEC) 60 days after the close of the company's fiscal year, while the Form 10-Q is filed three times each year. Companies will normally append their Form 10-K to their annual report. SEC rules also state companies are required to provide shareholders a copy of this report upon request.
Company websites will oftentimes contain both their current as well as historical Form 10-K and Form 10-Q documents; typically located in the "investors" section. The report itself includes a large volume of information, and contains more backup and supporting schedules than the company's Form 10-Q. The information appearing in a Form 10-K is also audited, while a 10-Q may contain unaudited information.
The following types of information can be found in a company's Form 10-K:
Business Background: the history of the company, number of employees, operating geography, and business segments.
Select Financial Data: management's discussion and analysis of financial condition, critical assumptions, and off balance sheet arrangements.
Financial Statements and Disclosures: income statement, balance sheet, statement of cash flows, discontinued operations, long-term investments, available-for-sale securities, goodwill, stock-based compensation, long-term investments, financial risk, and management activities.
Leadership: company directors, executive compensation, and corporate governance.
Other: accounting fees and services, controls and operating procedures, as well as exhibits and detailed notes to financial statements.
Related Terms
Also known as a statement of financial position, the balance sheet is used to show the financial health of a company at a particular point in time. The balance sheet consists of assets, liabilities, and owner's equity in the company. It is one of the four key financial statements issued by public companies.
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The income statement is a financial accounting report that demonstrates how net income, or profit, is derived from revenues. The main categories appearing on an income statement include revenues, cost of goods sold, operating expenses, non-recurring items and net income.Moneyzine EditorNovember 6th, 2024
The cash flow statement is a financial accounting report that demonstrates how cash flows both into and out of a company. Cash flow statements provide investors and analysts with insights into the change in cash and cash equivalents in a given accounting period.Moneyzine EditorNovember 6th, 2024
The term Form 10-Q refers to a quarterly report that summarizes the business and financial performance of a company. Form 10-Q is a detailed document, which is produced three times each year and contains a number of unaudited financial statements publicly-traded companies are required to file with the Securities and Exchange Commission.Moneyzine EditorNovember 6th, 2024
The term Form 8-K refers to a report that summarizes material events that may be of importance to the Securities and Exchange Commission or investors. The Form 8-K is used to describe a number of material events as they occur. Regulations require companies to file this report with the Securities and Exchange Commission within four days of the event.Moneyzine EditorNovember 6th, 2024
The term annual report refers to a document that summarizes the operating and financial performance of a company over the course of a year. An annual report is typically distributed to shareholders along with a definitive proxy statement approximately forty days prior to the company's annual stockholder meeting.Moneyzine EditorNovember 6th, 2024
The term proxy statement refers to a document companies provide to their shareholders outlining decisions the company will discuss at a special or annual shareholder meeting. The Securities and Exchange Commission requires companies to provide a definitive proxy statement to shareholders prior to a vote on important matters.Moneyzine EditorNovember 6th, 2024
The term Form 3 refers to a report filed with the Securities and Exchange Commission when an individual first becomes a company insider. Reporting entities have ten days after the event to file this report with the Securities and Exchange Commission.Moneyzine EditorNovember 6th, 2024
The term Form 4 refers to a report filed with the Securities and Exchange Commission whenever the holdings of company insiders change. Reporting entities have four days after the event to file these reports with the Securities and Exchange Commission.Moneyzine EditorNovember 6th, 2024
The term Form 5 refers to a report filed with the Securities and Exchange Commission on an annual basis, summarizing the trading activities of company insiders. Reporting entities have forty-five days after the company's fiscal year is over to file these reports with the Securities and Exchange Commission.Moneyzine EditorNovember 6th, 2024
