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U.S companies publish 10-K reports along with Annual reports.
What is the difference between both?This is from wikipedia:
“A Form 10-K is an annual report, required by the U.S. Securities and Exchange Commission, that gives a comprehensive summary of a company’s financial performance.
Although similarly named, the annual report on Form 10-K is distinct from the often glossy “annual report to shareholders,” which a company must send to its shareholders when it holds an annual meeting to elect directors (though some companies combine the annual report and the 10-K into one document).
The 10-K includes information such as company history, organizational structure, executive compensation, equity, subsidiaries, and audited financial statements, among other information”
I don’t remember this ever being asked in an ACCA examination so, although more detail is available should you be interested, I wouldn’t devote any more of my studying time to the subject as preparation for P7
Is you ARE interested, there’s quite a lot about these reports on this link:
https://en.wikipedia.org/wiki/Form_10-K
OK?
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