The SEC Rules

  Financial reporting for America's small businesses

     
      
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5 July 2007 SEC proposes consolidation of Regulation S-B rules into Reg. S-K

27 June 2007 SEC proposes reducing holding periods under Rule 144

15 Dec. 2006 SEC again extends Section 404 compliance date for non-accelerated filers

Archives: 2005

 

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WHAT & WHEN TO FILE & WHO MUST FILE

Regulation S-X, Articles 3, 3A, 10 & 11

Annual – (Balance Sheet, Statement of Income, Statement of Changes in Stockholders’ Equity, Statement of Cash Flows, Notes to the Financial Statements, Financial Statement Schedules, Unaudited Quarterly Financial Data)

Quarterly – (Condensed Financial Statements, Condensed Notes, Statement of Stockholders’ Equity is optional) 

Other – (Unaudited Pro-Forma Financial Information, with Head-note and Footnotes)

CONTENT RULES IN ADDITION TO GAAP:

Definition of Terms: Regulation S-X, Article 1

Financial Statement Presentation Rules: Regulation S-X, Articles 5, 10 & 11 

Additional Disclosures: Reg. S-X, Articles 4 & 5

Foreign Private Issuers: Exchange Act Form 20-F

Specialized Industries: Industry Guides and     Reg. S-X, Articles 4, 6, 6A, 7 & 9

Financial Statement Schedules: Reg. S-X, Art.12

Official Interpretations & Unofficial Guidance: Codification of Financial Reporting Policies & Staff Accounting Bulletins 

RULES FOR AUDITORS:

Reg. S-X, Article 2 and PCAOB Standards

 

RULE SOURCES:

SEC:                          Regulation S-X             Regulation S-K, Item 302 Regulation S-B, Item 310     Form 20F                  Codification of Financial  _Reporting Policies          Industry Guides                    Staff Accounting Bulletins    Office of Chief Accountant     _Staff Letters to Industry       Staff Speeches & Other

FASB:                       Statements of Financial Accounting Standards         FASB Interpretations           FASB Technical Bulletins    FASB Staff Positions          FASB Concept Statements    EITF Consensuses

AICPA:                               APB Opinions             Accounting Research Bulletins Audit and Accounting GuidesAPB Interpretations   ICPA Statements of Position AcSEC Practice Bulletins Accounting Research Studies APB Statements

Other U.S. GAAP Sources

International Standards