10 Q Definition
What does 10 Q mean? A 10Q is a quarterly cumulative financial statement required by the Securities and Exchange Commission (SEC) under the Securities and Exchange Act of 1934 for all publicly traded companies. The 10-Q filing deadline for financial data is always due 35 days after each of the first three quarters throughout the year. There is no 10 Q filing at the end of the year. This is because the more extensive and comprehensive 10K is due at year end.
A 10-Q form requires that a company provide a balance sheet, income statement, cash flow statement, and a statement of stockholder’s equity. The 10 Q 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, and one year to the next so that investors can have a good picture or idea of where the company is heading.