Auditors' report. This summary of the findings of an independent firm of certified public accountants shows whether the financial statements are complete, reasonable, and prepared consistent with generally accepted accounting principles (GAAP) at a set time.
Management discussion. This series of short, detailed reports discusses and analyzes the company's performance. It covers results of operations, and the adequacy of liquid and capital resources to fund operations.
Financial statements and notes. These statements provide the raw numbers for the company's financial performance and recent financial history. The SEC requires three statements — statement of earnings, statement of financial position, and statement of cash flows — all covered in this guide (the statement of stockholders' equity is not addressed here). These statements include a comprehensive set of related notes that provide explanations, additional detail, and supplementary financial information.