+1-415-670-9189
info@expertsmind.com
Did any characteristics of your client change
Course:- Financial Accounting
Reference No.:- EM13864472





Expertsmind Rated 4.9 / 5 based on 47215 reviews.
Review Site
Assignment Help >> Financial Accounting

Question:

You are an auditor filing an 8-K Interim Event. Describe your client and what circumstances led you to decide you needed to file this report.

Now, in a follow-up post, imagine you need to file an S-1 IPO Registration report on behalf of the same client. Did any characteristics of your client change? In other words, describe why you need to file this report.

Answered:-

Verified Expert


Preview Container content

Annual reports are filed by each and every corporation that is registered with SEC in the form of 10-Kand quarterly reports are filed in the form of 10-Q. However under certain circumstances a corporation has to file an interim event report in the form of 8-K if there is a major event in between and the shareholders shall know about such significant events. Each and every firm is needed to file this report within 4 business days for the events that significantly alter business propositions and shareholders shall be made aware of it.

My client is a registered corporation engaged in the production and distribution of mobile phone components and has undergone significant changes in recent months.Under section 1.1 of the act, my firm has undergone some changes in the form of material agreements with clients and some changes to it as well. Material agreements are defined as agreements which put or provide significant obligation on the forms and such agreements can be enforceable against the firm.most likely such items of agreements require approval of the board of directors and shareholders.




Put your comment
 
Minimize


Ask Question & Get Answers from Experts
Browse some more (Financial Accounting) Materials
Reporting land transactions on statement of cash flows - On the basis of the details of the following fixed asset account, indicate the items to be reported on the statement
The codified rules in ASC 932 are largely based on two former FASB statements: Other former FASB statements that have special impact on the industry are: The SEC's rules for
Julie has just retired. Her company’s retirement program has two options as to how retirement benefits can be received. Under the first option, Julie would receive a lump sum
Do you agree with the current practice of testing Goodwill for impairment or would you prefer the previous practice of amortizing Goodwill over 40 years? Defend your position.
Quinnett Corporation has two divisions: the Export Products Division and the Business Products Division. The Export Products Division's divisional segment margin is $37,300 an
Davis Hardware Company uses a periodic inventory system. How should Davis record the sale of inventory costing $620 for $960 on account?
Explain why Kevin Pte Ltd should treat this lease as a financial lease, prepare a lease amortization schedule for the entire lease period for the firm.
The income tax rate for White Lightning is 30 percent. Make the portion of the income statement beginning with "income from continuing operations before income tax" for the