Publicly traded companies

Financial statements of publicly traded companies

The Securities and Exchange Commission oversees publicly traded companies. Following the market collapse that precipitated the Great Depression, Congress passed the Securities Act of 1933 and the Securities Exchange Act of 1934. Together, they created reporting requirements and a mechanism for the public to examine reports about publicly traded companies. Both acts contain voluminous regulations on businesses. They commonly use the term “security” to refer to the stocks a company issues. Derivatives, swaps, bonds, debentures and futures are all types of securities too, but are more complicated financial instruments. The basics that are generally most useful to business reporting are explained below:

1933 Act

The Securities Act of 1933 (codified at 15 U.S.C. § 77a) is designed to prevent fraud in the sale of securities. It requires initial disclosures about securities, such as stocks, that are going to be sold to the public. Most securities that are to be sold have to be registered. The registration documents have to describe the securities that are being sold, provide financial statements and a describe the management structure of the company.

1934 Act

The Securities Exchange Act of 1934 (codified at 15 U.S.C. § 78a) created an enforcement mechanism for the 1933 Act in Securities and Exchange Commission. It also added more reporting requirements for securities that are being sold on a secondary market, such as a stock exchange, and it set thresholds for how large a company has to be in order to fall under the reporting requirements.

The size of companies that fall under the 1934 Act has been amended over the years; currently, the Act applies to publicly traded companies that have more than 500 shareholders and $10 million in assets. It also requires companies to provide annual and quarterly reports, called 10-K’s and 10-Q’s, which are publicly available on EDGAR, the SEC’s electronic filing system. The SEC also may require some businesses to file additional reports.

What’s available and where to go

The Securities and Exchange Commission maintains EDGAR, the database of all corporate filings. The database takes some getting used to, but every public filing of publicly traded companies is in it. There are other Web sites that often include SEC documents, such as and with varying degrees of completeness and access costs that range from nothing to several hundred dollars a year. Some of the pay services allow searches for keywords across SEC filings.

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Pro forma results financial advice

by proformahidessins

The U.S. Securities & Exchange Commission (SEC), the federal regulatory agency that polices the financial statements of publicly traded companies, will be slapping warning labels on many of the annual reports and quarterly earnings statements being issued during the next several weeks. Concerned that so-called pro forma presentation of financial information could mislead investors, the SEC six weeks ago pointedly reminded companies that the antifraud provisions of federal securities laws also apply to firms not reporting results according to U.S. GAAP, a traditional set of generally accepted accounting principles

Pro Forma' Financial Information: Tips for investors

by proformahidessins

The U.S. Securities & Exchange Commission (SEC), the federal regulatory agency that polices the financial statements of publicly traded companies, will be slapping warning labels on many of the annual reports and quarterly earnings statements being issued during the next several weeks. Concerned that so-called pro forma presentation of financial information could mislead investors, the SEC six weeks ago pointedly reminded companies that the antifraud provisions of federal securities laws also apply to firms not reporting results according to U.S. GAAP, a traditional set of generally accepted accounting principles

Maybe

by TheDevineMissEm

The financial reporting section is geared more towards publicly traded companies and their financial statements. Gov't/nonprofit wouldn't be a good one to prepare for that section. (Its still a good class; I am glad I took that elective. However, it is a specialized class for a specialized niche.) That said, ask any of your accounting professors or the department head (All my accounting profs have been licensed CPA's in addition to their graduate degree.)

Red china tops fortune 500 third year in row

by gumby-dammit

I mean wal-mart.
Wal-Mart Tops Fortune 500 List for Third Straight Year
By Michael P. Regan The Associated Press
Published: Mar 21, 2004
NEW YORK (AP) - A tail wind of improving economic conditions blew many major companies to record revenues in 2003, but none was able to knock Wal-Mart Stores Inc. off the top of the Fortune 500 list.
With sales of more than $259 billion - nearly a quarter of a trillion dollars - the late Sam Walton's global chain of general stores topped the list of the nation's largest publicly traded companies for the third straight year

unknown Side seems to read the companies: publicly traded companies financial statements (Korean edition)
Book (unknown)

French banks' dominance in trade finance weakens  — Gulf Times
Kris Van Broekhoven, global head of commodity trade finance at Citi, said large trading houses were effectively doing part of the job previously done by banks. “Some of the large trading houses are bridging the time between when financing is required ..

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