The following is not meant to be legal advice.
When reviewing the Form 10-Q, what are some items that the attorney should be looking out for?
In the Cover Page, the attorney might check against form to make sure it is the latest form. The latest SEC forms are found at the SEC web site.
In Part I, Item 1, the attorney might review the financial statements, including the interim balance sheets, interim statements of income, interim statements of cash flow.
In Part 2, on Management’s Discussion and Analysis of Financial Condition and Results of Operations, the attorney might look out for discussion of financial condition, changes in financial condition from end of preceding fiscal year to date of most recent balance sheet, including results of operations, including specified information on liquidity.
Information on liquidity may involve: events or uncertainties that are likely to result in material changes in liquidity, internal and external sources of liquidity, material unused sources of liquid assets.
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