10 K Definition
What does 10 K mean? A 10K is an annual cumulative financial statement required by the Securities and Exchange Commission (SEC) under the Securities Exchange Act of 1934 for all publicly traded companies. The 10-K filing deadline for financial data is always due 90 days after the end of the fiscal year of that company. The form 10-k is often more extensive and comprehensive than the 10Q which is the quarterly filing required by the SEC.
A 10-K form requires that a company provide the following:
The 10 K form should also disclose any major changes made since the last financial filing. These disclosures may include a change from one accounting method to another, or a discussion of a contingent liability such as an ongoing litigation. The SEC also requires that a company provide relevant financial data from the exact same filing time during the past year. This makes information readily comparable from one period to the next. As a result, investors can have a good picture or idea of where the company is heading.