Section 1: 30–40%1D

Public Company Reporting Topics

Exam insight

SEC reporting and segment disclosures show up a lot on the MCQs. Questions hammer the 10% segment thresholds - revenue, profit/loss, assets - and it's easy to mix up which denominator to use. Know your SEC forms too: 10-K (annual), 10-Q (quarterly), 8-K (material events). Swapping those is an instant wrong answer.

What AICPA wants you to know

1Apply the integral view of interim reporting and the annual effective tax rate method
2Identify what must be disclosed in interim financial reports (ASC 270)
3Apply the quantitative thresholds for segment reporting (ASC 280)
4Describe SEC filing requirements: 10-K, 10-Q, 8-K and their key contents
5Explain the management's discussion and analysis (MD&A) requirement

Patterns in this topic

The exam re-skins the same archetypes. Recognize these here, then drill them in the Pattern Lab.

The Public Company RulebookSEC filings, interim reporting, and segments run on bright-line numbers: 10-K audited, 10-Q reviewed, 8-K in four business days, AETR each quarter, and the 10 and 75 percent segment tests.

Exam tip

Study smarter: before you expand each card, cover the screen and try to recall what the concept means from its title alone. Retrieving it from memory builds the recall the exam actually tests, and it beats re-reading.