This course provides a deep dive into SEC Form 10-K. This course addresses the key requirements and regulatory aspects, including filing deadlines and their significance for investors. This course also addresses the financial statements section, covering the balance sheet, income statement, cash flow statement, and footnote disclosures, along with best practices for preparation. The course also focuses on the Management’s Discussion and Analysis (MD&A) section, exploring its importance in the explanation of financial results and addressing common drafting challenges. Finally, this course discusses risk factors, internal controls, and corporate governance disclosures, highlighting their role in enhancing transparency.
Publication Date: March 2025
Topics Covered
- Introduction to SEC Form 10-K Requirements
- Detailed Analysis of the Financial Statements Section
- Management's Discussion and Analysis (MD&A)
- Risk Factors, Controls, and Corporate Governance Disclosures
Learning Objectives
- Identify the key components of SEC Form 10-K and their relevance to financial reporting.
- Recognize the regulatory requirements and compliance aspects associated with filing Form 10-K.
- Explain how to distinguish between the filing deadlines for Form 10-K and the consequences of non-compliance
- Recognize the significance of Form 10-K for investors and stakeholders
- Identify the key components and classifications of financial statements included in SEC Form 10-K
- Recognize the significance of each financial statement in assessing a company’s financial health
- Explain how to distinguish between critical accounting policies and estimates that impact financial reporting
- Determine the role of footnote disclosures in providing additional context to financial statements
- Recognize common pitfalls in financial statement disclosures from effective disclosure practices
- Identify key elements of MD&A
- Explain how to distinguish between liquidity and capital resources in MD&A
- Recognize best practices for drafting effective MD&A disclosures
- Identify common challenges in MD&A reporting
- Recognize the significance of critical accounting estimates in MD&A
- Identify the methods companies use to determine and communicate risk factors in SEC Form 10-K
- Recognize the key components of ICFR and their significance in accurate financial reporting
- Explain how to distinguish between various elements of executive compensation disclosures required in Form 10-K
- Determine the role and responsibilities of audit committees in corporate governance
- Recognize best practices for board composition and independence that enhance corporate governance and investor confidence
Level
Overview
Instructional Method
Self-Study
NASBA Field of Study
Accounting (4 hours)
Program Prerequisites
None
Advance Preparation
None
Instructor
Kelen Camehl
Kelen is a recognized author and reviewer of CPE courses and has authored over 145 courses (350 CPE credit hours) covering a range of accounting, auditing, financial reporting, regulatory, and ethics topics. His courses are available for purchase from many online CPE providers including the AICPA. Kelen remained involved in CPA exam content development for nearly 10 years and authored more than a thousand multiple choice questions for various sections of the CPA exam. He also serves as an Editorial Advisor for the AICPA’s "Journal of Accountancy".
Kelen has nearly 20 years of progressive finance and accounting experience. He currently serves as an Accounting Policy Advisor with HP. Prior to HP, he served in multiple accounting roles in the oil & gas industry with ConocoPhillips including technical accounting policy, SOX compliance, and internal audit. He also gained public accounting experience with PricewaterhouseCoopers, working with various clients in the energy, electric, power, gas, and utility sectors.