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| Course 105:
Financial Reports and How to Read Them |
| 10-Q Reports |
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In each of the three quarters that they don't file a 10-K, companies have to file a quarterly report, or 10-Q, with the SEC. A 10-Q doesn’t contain the often-lengthy preliminary matter that leads off a 10-K; instead, the financial statements and management’s discussion are front and center. This information is similar to what is available in the 10-K, except it covers a single quarter rather than a full year; also, there isn’t as much detail and the financial numbers aren't audited. The management’s discussion and analysis section is usually where you can find information about any material changes in the company during the quarter, such as acquisitions, spin-offs, or new products.
After the financial statements and management’s discussion comes a section labeled "other information," which is generally a short section containing information about legal proceedings, stock offerings, defaults on bonds, and any matters being submitted to a vote of shareholders. It also lists any 8-K forms that the company filed during the quarter.
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