Question
Annual Report filing dates Large corporations, with float of $700 million or more, have to have their 10-K filed with 60 days of the last
Annual Report filing dates
Large corporations, with float of $700 million or more, have to have their 10-K filed with 60 days of the last day of the fiscal year. The financials must be audited as well as other matters addressed under the 1934 act.
Contrasting to this, smaller corporations, with float of less than $75 million, can delay their filing by 30 additional days. Here are the questions to discuss:
1. Why do you suppose this is?
2. Do you think that the value of stock in smaller corporations would be positively or negatively impacted if smaller companies were required to file within 60 days (file a month earlier)?
3. I am going to make the case that since larger companies have more complicated matters, shouldn't we give the auditors more time to do their work instead of less time? You don't have to agree with me, but just discuss this facet of the topic. (You might talk about the relationship auditors have with their clients in this --I expect some of you may have internships that will give you some background for discussion.)
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