10-K Wrap

  

It's really just the 10K, plus that B.S. letter from the CEO to shareholders. We think that letter should be rapped, and this term should be called a "10K Rap." But the SEC just said, "No." Party poopers.

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Finance: What is a Fiscal Year v. Calend...28 Views

00:00

Finance allah shmoop what is a fiscal year versus a

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calendar year Well let's start with the latter calendar year

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that's this thing It starts january one with a hangover

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and ends at midnight December thirty one with a big

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fat ball dropping in new york No this thing different

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ball paul's Never All right So that's a calendar year

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and okay so what is a fiscal year And how

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is it different from a calendar year Well it isn't

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always different Actually a fiscal year just refers to the

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one year period in which companies track and report their

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financial story Some companies report from january one to december

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thirty one right like their fiscal year maps on top

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of the calendar year But in some cases this reporting

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system was misleading or problematic for investors Why All right

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Well let's take macy's please They used to be somebody

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Somebody They had parades and white flower day sales and

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people used to actually go to their stores So macy's

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did some huge percentage of its sales for the year

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right around christmas And before you know computers were really

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a thing it often took weeks or months toe fairly

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And accurately add everything up so macy's among others decided

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to change their fiscal year They were powerful back then

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so you know they could do things like that So

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they moved their year to run from july one until

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june thirty that is that became their fiscal year it's

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still a year still three hundred sixty five days still

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everything the same With the exception of the start and

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end points this way When things were relatively quiet at

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the end of june the macy's bean counters could properly

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count their year end beans in relative peace and harmony

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Having caught up from the day luge of frenzied christmas

01:54

sales it gets even more complex in that some companies

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wanted to be fully off kilter for any comparable calendar

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years Oracle the database company for example is one of

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them Savvy buyers of databases would wait until just before

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the quarter ended for oracle hoping to negotiate better rates

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in renting their database needs It was dangerous for a

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company to miss its quarter with so much competition in

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silicon valley from startups to steal those precious engineers from

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big companies and put him into running a startups You

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know big companies and they paid in cash and modest

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stock options You can't really get rich these days working

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at oracle if oracle ever missed a quarter while it

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would hemorrhage engineers to the venture capital people hovering in

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the hallways so oracle moved its fiscal ofthe month I'ii

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february may august november kind of vibe so that wouldn't

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be quite as held hostage by those savvy database renters

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hoping for a macy style midnight white flower day sale

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Now that's something worthy of a parade There's a database 00:03:00.715 --> [endTime] parade

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