What does pro forma compliance mean?
What does pro forma compliance mean?
Pro Forma Compliance means, with respect to any transaction, that such transaction does not cause, create or result in a Default after giving Pro Forma Effect, based upon the results of operations for the most recently completed Measurement Period to (a) such transaction and (b) all other transactions which are …
What does Regulation S-X apply to?
Regulation S-X is a U.S. Securities and Exchange Commission rule that covers annual reports from companies.
What does a pro forma include?
In financial accounting, pro forma refers to a report of the company’s earnings that excludes unusual or nonrecurring transactions. Excluded expenses could include declining investment values, restructuring costs, and adjustments made on the company’s balance sheet that fix accounting errors from prior years.
What is Regulation S-X pro forma financial information?
Article 11 of Regulation S-X, Pro forma financial information, describes the requirements of the Securities and Exchange Commission (SEC) for registrants to provide pro formas. In May 2020, the SEC amended its requirements for registrants to provide information about significant
What is rule 6-11 of Regulation S-X?
Add new Rule 6-11 of Regulation S-X to specifically cover financial reporting in the event of a fund acquisition; and Eliminate the pro forma financial information requirement for investment companies and replace it with supplemental financial information more relevant to fund investors. What are the compliance dates of the amendments?
What is pro forma financial information?
Pro forma financial information typically includes a pro forma balance sheet and pro forma income statements based on the historical financial statements of the registrant and the acquired or disposed business, including adjustments to show how the acquisition or disposition might have affected those financial statements.
Do I need to include S-X Article 11 pro forma financial information?
Also, if a registrant presents the financial statements of an individually insignificant business, the staff encourages the registrant to also include S-X Article 11 pro forma financial information in the filing.
