Question: Determine for each of the fact patterns set forth below, whether a Current Report on Form 8 - K is required. Assume that the Company
Determine for each of the fact patterns set forth below, whether a Current Report on Form K is required. Assume that the Company is subject to Exchange Act reporting and therefore it is necessary to determine whether the event described requires the company to file or furnish a form K to the SEC, describing the event. For each fact pattern, determine which Item from sections of the K instructions is triggered if applicable what information must be disclosed and when the form needs to be filed, based on the information provided.
Fact patterns.
On July the Companys audit committee concludes that a material impairment of goodwill has occurred. The impairment charge is estimated at $ million and has occurred as a result of declining demand for the companys products during the pandemic. This conclusion was made during the preparation of the financial statements that the company will include in its quarterly report on form Q for the quarter ended June that it will file in early August.
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