Sec Filing Document

In: Business and Management

Submitted By ashoor
Words 49111
Pages 197
SECURITIES AND EXCHANGE COMMISSION
17 CFR Parts 210, 229, 230, 240, 244 and 249
[RELEASE NOS. 33-8982; 34-58960; File No. S7-27-08]
RIN 3235-AJ93
ROADMAP FOR THE POTENTIAL USE OF FINANCIAL STATEMENTS
PREPARED IN ACCORDANCE WITH INTERNATIONAL FINANCIAL
REPORTING STANDARDS BY U.S. ISSUERS
AGENCY:

Securities and Exchange Commission.

ACTION:

Proposed rule.

SUMMARY: The Securities and Exchange Commission (“Commission”) is proposing a
Roadmap for the potential use of financial statements prepared in accordance with
International Financial Reporting Standards (“IFRS”) as issued by the International
Accounting Standards Board by U.S. issuers for purposes of their filings with the
Commission. This Roadmap sets forth several milestones that, if achieved, could lead to the required use of IFRS by U.S. issuers in 2014 if the Commission believes it to be in the public interest and for the protection of investors. This Roadmap also includes discussion of various areas of consideration for market participants related to the eventual use of IFRS in the United States. As part of the Roadmap, the Commission is proposing amendments to various regulations, rules and forms that would permit early use of IFRS by a limited number of U.S. issuers where this would enhance the comparability of financial information to investors. Only an issuer whose industry uses IFRS as the basis of financial reporting more than any other set of standards would be eligible to elect to use IFRS, beginning with filings in 2010.

DATES:

Comments should be received on or before February 19, 2009.

ADDRESSES: Comments may be submitted by any of the following methods:
Electronic Comments:


Use of the Commission’s Internet comment form
(http://www.sec.gov/rules/proposed.shtml); or



Send an e-mail to rule-comments@sec.gov. Please include File Number S727-08 on…...

Similar Documents

Document

...lessons for the QIC countries' stock exchanges in terms of the need for harmonizing their physical, institutional and legal frameworks and policies and sharing their investor base. Table of Contents Page No. Letter of Transmittal Preface Acknowledgement Abstract Chapter One: Introduction 1.1    Objectives of the Study 7 1.2    Rationale of the Study 7 1.3    Methodology of the Study 8 Chapter Two: The Central Regulatory Agency 2.1     Brief History of Stock Market in Bangladesh 9 2.2     Securities and Exchange Commission (SEC) 10 2.3     Objectives of SEC 10 2.4     Functions of SEC 10 Chapter Three: Background of Chittagong Stock Exchange Limited 3.1     Mission of CSE 11 3.2     Objectives of CSE 11-12 3.3     Management of CSE 12 3.4 Regulatory Structure of CSE 12 3.5 Organization Structure of CSE 13 3.6 Boards of Directors 13-14 3.7 Scope of CSE 14 Chapter Four: Activities of Various Departments of CSE 4.1     Compliance Section 15-21 4.2     Other Sections 21-23 Page No. Chapter Five: Trading System of Chittagong Stock Exchange Limited 5.1     Types of Trading......

Words: 8164 - Pages: 33

Sec Regulations

...In today’s society where there seems to be an increase in attention toward unethical behavior organizations must adhere to the laws set forth by the SEC. It is now more critical than every that organizations establish policies and processes to ensure that it is complying with the rules and regulations put in place by the Securities and Exchange Commission. Barnes and Noble Inc., meet’s the SEC’s reporting requirements through the use of technology, internal disclosure controls, internal controls over financial reporting, and independent accounting auditors who verify that these controls are in place and working as intended. The SEC requires that Barnes & Noble posts all Interactive Data Files required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months. After studying the proxy statement for Barnes & Noble, Inc., the filings show that historical SEC filings are listed by category for a variety of required reports, including forms 8-K, 10-Q, 10-K, and proxy statements. Barnes & Noble requires that SEC filings are signed by a senior management member like. In Barnes & Nobles case the 8-k SEC filing was signed by the Chief Financial Officer. This helps ensure that the filings are correct, comply with SEC reporting requirements, and are properly communicate to stakeholders in the management of Barnes & Noble, Inc. The organization uses internal auditing committee called the “Audit Committee “. The Audit Committee reviews the company’s......

Words: 304 - Pages: 2

About Sec

...------------------------------------------------- About SEC The Securities and Exchange Commission (SEC) was established on 8th June, 1993 under the Securities and Exchange Commission Act, 1993. The Chairman and Members of the Commission are appointed by the government and have overall responsibility to formulate securities legislation and administer as well. The Commission is a statutory body and attached to the Ministry of Finance. Mission of the SEC is to: * Protect the interests of securities investors. * Develop and maintain fair, transparent and efficient securities markets. * Ensure proper issuance of securities and compliance with securities laws. The Commission's main functions are: * Regulating the business of the Stock Exchanges or any other securities market. * Registering and regulating the business of stock-brokers, sub-brokers, share transfer agents, merchant bankers and managers of issues, trustee of trust deeds, registrar of an issue, underwriters, portfolio managers, investment advisers and other intermediaries in the securities market * Registering, monitoring and regulating of collective investment scheme including all forms of mutual funds. * Monitoring and regulating all authorized self-regulatory organizations in the securities market. * Prohibiting fraudulent and unfair trade practices relating to securities trading in any securities market. * Promoting investors’ education and providing training for......

Words: 1409 - Pages: 6

Document

...Foreign Exchange ----------------------------------------------------- 35 Foreign exchange dept. of Bank Asia, Khatungonj Branch ---------------------- 35 Foreign Exchange Mechanism -------------------------------------------------------- 36 Import Dept. ----------------------------------------------------------------------------- 37 Major Tools in Foreign Exchange: Letter of Credit ------------------------------ 40 Lodgment of Documents procedure ------------------------------------------------ 44 Parties Involved in L/C -------------------------------------------------------------- 44 Different Types of L/C provided by Khatungonj Branch ----------------------- 47 Advantages & Disadvantages of L/C ----------------------------------------------- 50 Types of Contacted price for L/C --------------------------------------------------- 51 Nature of Credit ------------------------------------------------------------------------52 Foreign Remittance -------------------------------------------------------------------- 54 Documents Needed for Import & Export Procedure ------------------------------ 55 Export Department ----------------------------------------------------------------------56 Post shipment Credit ------------------------------------------------------------------- 59 Back to Back L/C ------------------------------------------------------------------------ 60 Reporting to Bangladesh Bank......

Words: 16608 - Pages: 67

Sec Stock Picking Skills

...Stock Picking Skills of SEC Employees Shivaram Rajgopal Schaefer Chaired Professor of Accounting Goizueta Business School Emory University 1300 Clifton Road NE, Atlanta, GA 30030 Email: shivaram.rajgopal@emory.edu Roger M. White PhD Student in Accounting J. Mack Robinson School of Business Georgia State University Email: rwhite42@gsu.edu Preliminary and incomplete Comments welcome This draft: February 18, 2014 Abstract: We use a new data set obtained via a Freedom of Information Act request to investigate the trading strategies of the employees of the Securities and Exchange Commission (SEC). We find that a hedge portfolio that goes long on SEC employees’ buys and short on SEC employees’ sells earns positive and economically significant abnormal returns of (i) about 4% per year for all securities in general; and (ii) about 8.5% in U.S. common stocks in particular. The abnormal returns stem not from the buys but from the sale of stock ahead of a decline in stock prices. We find that at least some of these SEC employee trading profits are information based, as they tend to divest (i) in the run-up to SEC enforcement actions; and (ii) in the interim period between a corporate insider’s paper-based filing of the sale of restricted stock with the SEC and the appearance of the electronic record of such sale online on EDGAR. These results raise questions about potential rent seeking activities of the regulator’s employees. We acknowledge financial assistance from our......

Words: 16330 - Pages: 66

Sec of Bangladesh

...terms and concepts related to Security Exchange Commission. METHODS: This assignment has been prepared on the basis of experience gathered during the period of FIN 335 course. For preparing this assignment, we have also got information from various websites and Security Exchange office at Motijheel ‘ Jibon Bima Bhaban ‘which may provide successful results considering this report. 1.3 LIMITATIONS ✓ Some websites had no direct reference. ✓ Unable to collect enough information from due to their official restrictions. ✓ Data collection process was irregular. ✓ Due to other courses and exams, we did not get enough time to give 100% time. ✓ Due to excess load shedding, it was difficult to work. Background SEC was established on 8 June, 1993 under the Securities and Exchange Commission Act, 1993. The Chairman and Members of the Commission are appointed by the government and have overall responsibility to administer securities legislation. The Commission, at present has three full time members, excluding the Chairman. The Commission is a statutory body and attached to the Ministry of Finance. Mission ➢ Protect the interests of securities investors ➢ Develop and maintain fair, transparent and efficient securities markets ➢ Ensure proper issuance of securities and compliance with securities laws Functions ➢ Regulating the business of the Stock Exchanges or any other securities market. ➢ Registering and......

Words: 13183 - Pages: 53

Sec 430

...Bus Radio Theft Investigation Case Charles Roberts SEC/430 June 2, 2014 David Lastra Bus Radio Theft Investigation Case One word or term you will always here when you hear about a crime or theft is the word investigation. An investigation will take place after a crime or theft in order for authorities to learn more about the case they are undertaking, and also to find out the reasons for the thefts, possible reasons for the thefts, and why they chose the location or victims of the theft. The case in this example we will discuss is known as Kelsey more specifically as the “Bus Radio Theft Case.” This incident took place at one of the schools in the town of Kelsey, which is known as the Unified School District. The perpetrators, another term known during investigations, were stealing radios from school buses at the Kelsey bus yard. This case took place a few years ago, but there are lessons to be learned by doing a study of the facts, and in doing that one should be able to solve the mystery of the bus radio thefts. I will evaluate how the investigation team of this case produced and accumulated their information, how they made observations, and the consequences from these resolutions built from this information. We will also take a look at a few of the important and very helpful techniques the team used to make this investigation into a success, including conducting interviews with the right people and asking the right questions, as well as how......

Words: 1378 - Pages: 6

The Sec

...Overview of the SEC Primitive economies are basically barter economies (goods and services traded for other goods and services), while in other mature economies, businesses are organized into proprietorships, partnerships, and joint venture. These types of closely held businesses, in which owners manage their own business, do not need external reporting of the results of operations. However, external reports have become essential with the increase in the size and number of business enterprises, along with the increased amount of people investing capital resources in these businesses. The corporate form of business also increases the need for objective verification of data and creates a need for disclosure of more and better information to owners and potential investors. Furthermore, the increase in value, size and activity of capital exchange in security market also increases the opening of taking advantage in lax conditions and to profit by misrepresentation and manipulation. Hence, the main reason for establishing the securities legislation was because large security market requires operating procedures that would protect investors from fraud and guarantee an adequate supply of capital for economic growth. Background of the SEC The Securities and Exchange Commission (“SEC”) is one of several public and private sector rule-making organizations that have an effect on financial reporting for businesses. It plays a crucial role in the development...

Words: 7011 - Pages: 29

Understanding Sec Filings Amazon

...Amazon.com 1. Provide answers to the following questions about the 10K filing by reading/searching the document. a. What is the purpose? The purpose of 10K is to comprehensively summarize a company’s financial performance and help investors have a better understanding about the company’s state of operation. b. When is it filed? 1/31/2014 c. What financial statements are included in the 10K? • Report of Ernst & Young LLP, Independent Registered Public Accounting Firm • Consolidated Statements of Cash Flows • Consolidated Statements of Operations • Consolidated Statements of Comprehensive Income • Consolidated Balance Sheets • Consolidated Statements of Stockholders’ Equity d. Identify each note (e.g., Note 1), its associated title (e.g., Summary of Significant Accounting Policies) and the purpose of the note in the section titled “Notes to Consolidated Financial Statements.” [You may do this in a table format.] NO. Title Purpose Note 1 Description of business and accounting policies Presenting a broad company profile and briefly summarized the accounting policies used by the enterprise. Note 2 Cash, Cash equivalents, and marketable securities Company’s cash,cash equivalents, and marketable securities measured at fair value on a recurring basis and categorized using the fairvalue hierarchy are summarized by major security type. Note 3 Property and equipment This note briefly summarized the cost and depreciation expense of major property and equipment. ...

Words: 1402 - Pages: 6

Document

...Travel Document I-131 Prepared for Ragnagnewende Jean De Dieu SALAMBERE Last Printed On 03/17/2015 24/7 Customer Care Hotline: 1-800-814-1555 or email us at cs@us-immigration.com and we'll respond within 24 hours Next Steps 1. Read and Follow the Application Filing Instructions. 2. Sign and Date Your Printed Application. 3. Prepare Supporting Documents, as Instructed.* 4. Prepare Filing Fee, if Necessary.* 5. Attach Supporting Documents and Payment. 6. Photocopy Your Signed Application, Supporting Documents and Payment, and Keep the Copies for Your Records. 7. Send Your Original Signed Application, Supporting Documents, and Payment to USCIS (Formerly the INS) at the Address Listed in the Filing Instructions. 8. Do Not Send This Cover Page or Your Filing Instructions. *You may or may not have to send photographs, supporting documents, or a filing fee. Your Forms Filing Instructions will specify everything that is required. www.us-immigration.com 1 of 11 DO NOT SEND THIS COVER PAGE TO USCIS Guiding You Through Citizenship, Green Card and Visas Applications Congratulations, Ragnagnewende! you have reached the final stage of the application process! Following are step-by-step instructions for completing your application and submitting it to U.S. Citizenship and Immigration Services (USCIS). These instructions have been customized for you based on the answers you gave on your questionnaire. Note: Be sure to make a copy of your final application and supporting documents......

Words: 4995 - Pages: 20

Documents

...Introduction to Professional Billing and Coding Careers MULTIPLE CHOICE 1. The percentage of all healthcare providers who are physicians and nurses is: a. 25%. b. 40%. c. 50%. d. 60%. Answer: b EMPLOYMENT DEMAND 2. The percentage of all healthcare providers who are allied health professionals is: a. 25%. b. 40%. c. 50%. d. 60%. Answer: d EMPLOYMENT DEMAND 3. The increased demand for medical billers, medical office assistants, and medical coders can be attributed to: a. the growth of managed care. b. physician practices having more responsibility for filing claims. c. the need for additional staff to file claims and work to obtain timely payment. d. all of the above. Answer: d EMPLOYMENT DEMAND 4. All of the following changes were a result of managed care EXCEPT: a. physicians having to wait 30 days or longer for payment. b. physicians having more responsibility for filing claims. c. patients having to pay for services when rendered. d. physicians having to add to their staff. Answer: c EMPLOYMENT DEMAND 5. Before the 1970s, a physician’s practice would grow based on: a. advertising and referrals. b. managed care contracts. c. consultations. d. hospital affiliations. Answer: a EMPLOYMENT DEMAND 6. Before the 1970s, a solo practice included all of the following staff members EXCEPT: a. physician. b. nurse. c. certified medical biller. d. receptionist. Answer: c EMPLOYMENT DEMAND 7. Managed care is a system......

Words: 3363 - Pages: 14

Sec Regulations

...SEC Regulations In today’s society where there seems to be an increase in attention toward unethical behavior organizations must adhere to the laws set forth by the SEC. It is now more critical than every that organizations establish policies and processes to ensure that it is complying with the rules and regulations put in place by the Securities and Exchange Commission. Barnes and Noble Inc., meet’s the SEC’s reporting requirements through the use of technology, internal disclosure controls, internal controls over financial reporting, and independent accounting auditors who verify that these controls are in place and working as intended. The SEC requires that Barnes & Noble posts all Interactive Data Files required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months. After studying the proxy statement for Barnes & Noble, Inc., the filings show that historical SEC filings are listed by category for a variety of required reports, including forms 8-K, 10-Q, 10-K, and proxy statements. Barnes & Noble requires that SEC filings are signed by a senior management member like. In Barnes & Nobles case the 8-k SEC filing was signed by the Chief Financial Officer. This helps ensure that the filings are correct, comply with SEC reporting requirements, and are properly communicate to stakeholders in the management of Barnes & Noble, Inc. The organization uses internal auditing committee called the “Audit Committee “. The Audit Committee...

Words: 340 - Pages: 2

Sec 10k Paper & Presentation

...SEC 10-K Paper: Access the most recent SEC 10-K filing of a publically traded company. Verify your company has inventory and accounts receivable (trade receivable is acceptable). The company must sell a tangible product (not services). Do not select hotels, financial services, or other service oriented businesses. Post the name of your company in the SEC 10-K conference for approval. You must select a company that has not been previously selected so everyone has a different company. You will post comments about your company as we discuss the financial statements, inventory methods, accounts receivable, bad debts and other topics. The posting process will assist you in writing the paper. Use your own words. Do not copy and paste material. If you copy and paste any financial statements or areas from the SEC 10-K this will not count toward the page length requirement. Take care to avoid issues of academic dishonesty. Your works cited list should include the web address for your SEC 10-K so I can access it as you did. Your works cited list should also include our textbook. Any other resources should be cited in text using APA style. We use APA style for in text citations and for the works cited list. The paper should be one to two pages in length, single spaced, with one inch margins on all sides. Use 'headers' for sections such as Inventory and Accounts Receivable. You may have other sections as well. Double space between paragraphs. The paper is your opportunity to use......

Words: 588 - Pages: 3

Schedule of Filing of Returns

... Schedule of Filing of Statutory Returns 1. Statutory Returns prescribed under the Companies Ordinance, 1984 |Name of Form |Relevant Provision|Description |Filing time |To be Filed with |Applicable on |Fees in Rupees | | |of Companies | | | | | | | |Ordinance, 1984. | | | | | | |Circular |86(3) |Offer of new shares to |Before the circular is |Registrar |Company having |600 (online) | | | |existing shareholders before |sent to shareholders. |concerned |share capital |1500 (offline) | | | |making any allotment of | | | | | | | |shares. | | | | | |Form A/B |156, 3rd Schedule |Form A: Annual return of |If AGM is held, in any |Registrar | |600 (online) | | | |company having share capital |year then: |concerned | ...

Words: 2418 - Pages: 10

Financial Reports and Sec Filings

...ABSTRACT Publicly traded companies make multiple reports available to their investors through their websites. Not only does these companies make their financial information available to the public, they must also send in detailed reports to the SEC. In this paper, we will be examining a world-wide publicly traded company, American Eagle Outfitters. We will be looking at the financial information that the company has made available for the public to see, as well as the annual form, or 10-K, that is filed with the SEC. FINANCIAL REPORTS AND SEC FILINGS Introduction American Eagle Outfitters, a leading clothing retailer, offering high quality, on-trend clothing options for men and women, adults and children alike. While being a worldwide retailer, American Eagle Outfitters is a publically traded company, which means that its financial information is available for everyone to see. Along with this financial information, AEO must also submit annual reports to the Securities Exchange Commission. In this paper, we will be reviewing the financial reports of American Eagle Outfitters and assessing the differences between each of the financial reports. The Financial Reporting Model The financial reporting model is a written report of the financial condition of a company or firm. Investors and lenders, as well as government oversight, utilize financial reporting for different reasons. Investors utilize financial reporting in order to determine the financial health of a......

Words: 1439 - Pages: 6