The Securities and Exchange Commission (SEC) requires publicly traded companies to file a number of forms. It may seem like filing these forms merely satisfies bureaucratic requirements, but that's far from the case. In fact, it is the responsibility of the SEC and other regulatory agencies to ensure business confidence and a level playing field, forming a permanent part of the architecture of economic growth.
One of the more important forms to be familiar with in this regard is Form 10-K. Form 10-K is a report filed annually with the SEC that has the job of reporting to investors and potential investors everything they would want to know before buying/selling shares of the company: operations, finances, risks, opportunities and so on.
Unfortunately, although these reports are available to the public through the SEC's website, many investors never bother to read through a full 10-K filing, since it's full of the kind of details and figures that make our eyes glaze over. But there are ways that your organization can both satisfy the federal government and maintain the interest of investors in the 10-K. This post serves as an introduction to some of them.
What is the 10-K form, and what do you find in it?
The 10-K form is similar to the annual reports the leadership of an organization prepares for its investors. However, it differs in that the SEC has a number of requirements for information that companies include in their filing. Some of these are:
- Financial statements, including the income statement and balance sheets;
- How a company makes its money, as well as which markets it operates within;
- Accounting policies and practices, such as warranties and insurance;
- Disclosure of risks or potential risks, including current lawsuits;
- A listing of all other debt not included on the balance sheet, e.g., for operating leases;
- A signed oath from the CEO and CFO that the filings are accurate; and
- An assessment from the independent auditor of financial records.
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Media Highlights
Environmental, social and governance (ESG) issues have become more complex and multifaceted than ever before. At the same time, ESG continues to ascend on board and leadership agendas.
In this buyer’s guide, we explore what a market-leading ESG solution should look like and highlight the key areas organisations should be prioritising as they embark on their search.