Page 93 - Initial Public Offering - An Introduction to IPO on Wall Street

Form 10-Q For each of the initial three  Large accelerated
quarters of the financial year, filer—40 days after
this is the quarterly report fiscal quarter end
needed. It contains  Accelerated filer—40
summarized financial data days after fiscal
and critical events data. quarter end
Furthermore, the SEC rules  Non-accelerated
mandate that the provisional filer—45 days after
financial statements fiscal quarter end
contained in the quarterly  Newly public
update be subject to scrutiny company—45 days
by an independent auditor after fiscal quarter end
before submission. Owed within four business
Form 8-K This is a report submitted for days following the event
major events such as the
purchase or sale of assets; a
shift in power; bankruptcy; a
change of independent
auditor; the departure of
managers due to conflict
with the registrant; the
entrance into a substantive
material contract; the
establishment of direct
responsibilities or
responsibilities under off-
balance sheet provisions; A
dedication to a strategy
involving exit or dissolution
events; asset deficiencies;
and when a corporation
believes or is informed by its
independent auditor that
previously released financial
reports can no longer be
depended upon. Varying due dates
Proxy Information This involves information
supplied to shareholders so
that they can determine how
to allocate proxies (votes) to

their reports.

Preparation for a Reporting Calendar

A host of disclosure and other standards need to be adhered to by public corporations. The most
important change for many businesses is the need to close and publicly report on an accelerated
schedule on their financial statements and to conform to Sarbanes-Oxley criteria.
This is a procedure to be completely prepared for by the organization as the failure to fulfill

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