Request a demo

Solutions

Form 10-Q

A Form 10-Q comes three times a year, with the cover page and the quarter's financial statements in Inline XBRL. Disclose IQ lets a team prepare each quarter on the same footing as the annual report.

Request a demo See Excel table tagging

The form

What the form requires

A Form 10-Q covers the first three fiscal quarters of each fiscal year, and no report is needed for the fourth quarter. A Form 10-Q is due 40 days after the end of the fiscal quarter for large accelerated filers and accelerated filers, and 45 days for all other registrants.

Domestic filers file the cover page and financial statement information in Forms 10-Q and 10-K in Inline XBRL, including footnotes, schedules and, in annual reports, auditor information. Rule 406 of Regulation S-T requires the cover page of Forms 10-K, 10-Q, 8-K and 20-F to be tagged in Inline XBRL, in the manner the EDGAR Filer Manual provides. The financial statements in a Form 10-Q follow Rule 10-01 of Regulation S-X. An Interactive Data File is first required with a periodic report on Form 10-Q, Form 20-F or Form 40-F.

In the footnotes, each complete footnote, each significant accounting policy and each table is tagged as a block of text. Within each footnote, each amount, whether a monetary value, a percentage or a number, is tagged separately, and each narrative disclosure may be tagged separately if the filer chooses.

The cover of Forms 10-K, 10-Q and 20-F asks whether the registrant has filed every Interactive Data File required under Rule 405 of Regulation S-T in the preceding 12 months.

General information, not legal advice. Read the current form and rules.

How Disclose IQ handles it

A quarter is a smaller filing, and the same discipline

Import a table from Excel, give each row its concept and each column its period and unit, and every figure in it is tagged from those two decisions.

  • A 10-Q is created with its own sections, and each one runs its own workflow.
  • Each untagged figure can be matched to the previous filing's tag, with the reason shown, and nothing is tagged until a person accepts it.
  • The cover section holds a checklist of cover fields with their tagged state, and required cover facts are checked before export.
  • Validation runs when you choose, and the errors that block approval are listed apart from the warnings.
Illustrative Each untagged figure is matched to the prior filing's tag and shows why; a tag is written only when you accept it.

In practice

What the preparer works with

  • Quarterly tables

    A quarter's statements and notes are tagged the same way as an annual report's, one table at a time.

  • A section at a time

    Each section of the quarterly report has its own stage, so late numbers hold up only their own section.

  • The cover section

    The cover is worked as a section of its own, with its checklist kept apart from the quarter's tables.

  • Findings in view

    Findings are grouped as errors and warnings, and a filter shows only the errors that block approval.

Works with

Read more

  • Reusing a prior filing

    Reuse a prior filing's XBRL tags in the next period: what to import, what to compare concept by concept, and what to check again before accepting any of them.

  • Tagging a financial table from Excel

    How to tag an Excel table in XBRL for an SEC filing: give each row its concept and dimension members, give each column its context, then check the facts.

  • XBRL validation errors and warnings

    How to read XBRL validation errors and warnings before an SEC filing: what each one means, which errors must stop the work, and how to triage the findings.

See one section, end to end.

We'll take one note from a filing like yours from spreadsheet to reviewed, tagged disclosure in 20 minutes.

Request a demo