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US SEC preparing to scrap quarterly reporting requirement

reuters.com

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Re: US SEC preparing to scrap quarterly reporting requirement

#241

Post by vasco »

gzread wrote: post #217
storyinmemo wrote: post #168

Earlier quoted context omitted.

It's got to be one of these: FOB Shipping Point (or Origin): Responsibility transfers to the buyer as soon as the goods leave the seller's premises. You book it when it leaves your loading dock. FOB Destination: The seller retains risk and costs until the goods reach the buyer’s location. The sale doesn't happen until the asset transfer occurs. Before that any cash you get from the sale is balanced by the liability t…

You can account a transaction that's been placed but not fulfilled. I think when someone orders $15m of goods, you can immediately book $15m accounts receivable (asset) and $15m goods owed (liability) as soon as you have the expectation it will happen. If the transaction falls through, you delete them.

There's no deleting anything in accounting.

Re: US SEC preparing to scrap quarterly reporting requirement

#242

Post by Dylan16807 »

jandrewrogers wrote: post #225
Dylan16807 wrote: post #213

Earlier quoted context omitted.

Why can't that interpretation be done earlier in the process and then put into the database? Isn't it the same amount of transactions to be interpreted no matter what the reporting period is?

Do you understand that as a legal matter these must be good faith representations of the current state to the best of your knowledge? You can’t serve up intentionally stale information without inviting legal repercussions. The preparation process takes weeks. This is a very serious legal matter. These are being revised and updated right up until the point they are released to provide the most accurate reporting possi…

The category changes over time?

So let's try to think of solutions instead of giving up. A law that requires daily disclosure can change how the reporting works so you don't need to update those category decisions 200 times.

Re: US SEC preparing to scrap quarterly reporting requirement

#245

Post by vasco »

ghufran_syed wrote: post #192
b40d-48b2-979e wrote: post #163

Earlier quoted context omitted.

Okay, what's that to say it won't be the same but even worse on a 6mo reporting schedule?

as the time period gets longer, the the more likely it is that the numbers represent the true performance of the business rather than randomness. That has to be balanced against the fact that investors get less frequent updates i.e. the information is now potentially 6 months out of date rather than 3 months at worst. But then its just a judgment call of the relative benefit of each - you could argue that with modern…

How is 2 data points a year "representing the true performance of the business" but 4 data points a year is randomness?

You also get less frequent CPU usage % datapoints when you want to be sure about usage? That makes no sense at all.

Re: US SEC preparing to scrap quarterly reporting requirement

#246

Post by hammock »

jordanb wrote: post #70
hammock wrote: post #63

Earlier quoted context omitted.

I have worked in an industry (QSR) where it is commonplace that damn near the entire company is copied on a DAILY email of system-wide sales reports, and let me tell you you, it was NOT A GOOD THING.

I assume you mean that employees had daily goals? This is both not unusual and unrelated to investor reporting requirements.

No, I mean I as a relatively junior employee literally got a daily email with nationwide same store sales (dollar amounts , aggregated region, and corporate, franchise, etc) vs prior day, week, month, year and if it was ever down on even day 1 or 2 of a promo like “LTO spicy chicken funbox” or whatever you can guarantee the CEO would be calling and trying to upend and reverse the 3+ months of work you put into that product, campaign, etc because a single day of sales was down. No matter if it might have been down because of a cold front or literal noise in the data rather than a bad product. Everyone’s head was on a swivel and I can’t think of many more stressful environments

I personally witnessed this, at more than one of the top 5 qsr chains

Re: US SEC preparing to scrap quarterly reporting requirement

#247

Post by testrun »

fnordpiglet wrote: post #126
throw0101c wrote: post #53

Earlier quoted context omitted.

> And it’s not just execs, but the whole corporate machinery that takes 3–6 weeks after quarter end to churn out reports. Release early, release often. If you want corporate machinery to run more smoothly with less effort, force it to operate more frequently not less: when TLS certs had 2-3 year lifespans there was all sorts of manual methods that people forgot how to do; then it was maximum one year. We then got fre…

I up you to continuous reporting. Audit should be inherent to the system, not a process after the fact. As a public company all owners should have access to daily closed books, and all companies should be able to close their books daily in 2026. Every six months being the cadence we learn how our companies we own are doing is absurd. It leads to really long dark periods. Also for employees it means we can only divest…

You don't have all the relevant invoices etc at on time. Some of that takes quite awhile. Especially inter country purchases and sale transaction information.

Re: US SEC preparing to scrap quarterly reporting requirement

#248

Post by mcoliver »

fractorial wrote: post #234
mcoliver wrote: post #120

Simultaneously they are opening up 0DTE options on certain stocks starting with large market caps but don't be surprised when this expands. Currently this was limited to large etfs like SPX. They are also extending trading hours towards 24/7 and eventually 365. How they square increasing liquidity with delaying information is insane. I know there is a lot of manipulation to make quarterly numbers and the tax code is…

SPY is an ETF and SPX is an index. The distinction is material. /ES does not trade between 5pm and 6pm ET. SPX options aren't marked until 8:15 PM ET. It's more plausible that large caps see MWF, then MTWHF possibly.

Good additional info. I used a shortcut I figured most people would understand without getting into the weeds.

Re: US SEC preparing to scrap quarterly reporting requirement

#249

Post by chucksmash »

clickety_clack wrote: post #237
gzread wrote: post #214

Earlier quoted context omitted.

I saw this as a serious proposal somewhere but I can't remember where. There are exchanges out there that run continuously but with delayed information feeds.

It feels like something Matt Levine would have talked about.

He has

Re: US SEC preparing to scrap quarterly reporting requirement

#250

Post by thfuran »

svnt wrote: post #238
jandrewrogers wrote: post #165

Earlier quoted context omitted.

The beauty of it, though, is that it would recover almost immediately as systems arbitrage an obviously stupid situation.

No, they stop hunt their way to depressed prices where they then buy anticipating the recovery while you closed out your “safe” retirement positions at -15%.

>while you closed out your “safe” retirement positions at -15%

User error

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