Form 10-K is a comprehensive report filed annually with the Securities and Exchange Commission (SEC) by publicly traded companies in the United States. It includes audited financial statements and additional detailed information that generally exceeds the data offered in the annual report to stockholders.
In the USA, the section in the annual report to stockholders and in Form 10-K that is required by the Securities and Exchange Commission. The purpose of the MD&A is to assist investors to understand the impact of changes in accounting and business activity that have affected comparisons with the results of previous years.
