Bragg | Running a Public Company | Buch | 978-0-470-44636-2 | www.sack.de

Buch, Englisch, 336 Seiten, Format (B × H): 157 mm x 235 mm, Gewicht: 640 g

Bragg

Running a Public Company


1. Auflage 2009
ISBN: 978-0-470-44636-2
Verlag: Wiley

Buch, Englisch, 336 Seiten, Format (B × H): 157 mm x 235 mm, Gewicht: 640 g

ISBN: 978-0-470-44636-2
Verlag: Wiley


Praise for Running a Public Company: From IPO to SEC Reporting

"Steve Bragg's book is an essential read for anyone contemplating a public offering or taking on leadership responsibility in a public company. Not only does he explain the complicated aspects of registration and reporting, he provides practical examples of policies, procedures, and controls to keep a public company on the right track. This book is easy to follow and will continue to be a resource for the reader."—Tom Wilkinson, PMB Helin Donovan, LLP

"I will recommend Running a Public Company: From IPO to SEC Reporting to my clients and consulting colleagues as an excellent resource. The book provides helpful guidance about the decision to go public, and about managing the requirements once a company is public. Steve Bragg's extensive knowledge stems from actual business experience, and his writing style makes a complex topic easier to follow and understand."—Valerie G. Walling, CPA, CMC, Management and Internal Controls Consultant

"I highly recommend Steve's new book, Running a Public Company: From IPO to SEC Reporting, because it's a reference manual and insider's guide that contains a treasure trove of valuable insights certain to help managers, accountants, and attorneys navigate through the countless challenges that arise when taking (and keeping) a company public."—Matthew Posta, Esq., CPA, Vice President of Finance, Key Air, LLC

"Mr. Bragg has done an excellent job of demystifying what is required to run your company and sell your stock in the public markets. I consider this a must-read for anyone considering a public offering or working with a public company."—Wray Rives, CPA

"Running a Public Company: From IPO to SEC Reporting is an incredibly exhaustive guide to going public, spanning the process from first deciding to take the leap to filing with the SEC and everything in between—so comprehensive that it even includes the SEC's account number for paying filing fees! This is yet another Steven Bragg title for professionals that takes a complicated and oftentimes confusing process and breaks it down into simple, easy-to-follow steps. Should our company ever decide to make that jump, it is reassuring to know that Running a Public Company has laid out the path before us in perfect detail. Whether used as a reference or a guide, Mr. Bragg makes the process simple, clear, and amazingly straightforward."—Adrienne Gonzalez, Project Coordinator, Roger CPA Review, Chief Information Officer, JrDeputyAccountant.com

"The first A to Z guide that I have seen. An excellent reference for management and investors alike."—Brian A. Lebrecht, Esq., President, The Lebrecht Group, APLC

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Weitere Infos & Material


About the Author xiii

Preface xv

Part I How to Go Public 1

Chapter 1 The Initial Public Offering 3

Introduction 3

Reasons to Go Public 3

Reasons Not to Go Public 5

The Cost of an IPO 7

Preparing for the IPO 7

Finding an Underwriter 10

Registering for and Completing the IPO 14

Summary 18

Chapter 2 Acquiring a Public Shell Company 19

Introduction 19

Pros and Cons of Acquiring a Public Shell Company 19

The Mechanics of a Shell Company 21

Summary 22

Chapter 3 Listing on a Stock Exchange 23

Introduction 23

The Listing Process 23

The American Stock Exchange 24

The NASDAQ 27

Overview 27

The NASDAQ Capital Market 27

The NASDAQ Global Market 27

The New York Stock Exchange 29

Comparing the Stock Exchanges 31

Summary 33

Part II Dealing with Investors 35

Chapter 4 Investor Relations Overview 37

Introduction 37

Investor Relations Objectives and Goals 38

Investor Relations Tools 39

The Fact Sheet 41

The Press Release 42

The Annual Report 46

The Annual Meeting 48

The Company Web Site 49

The Road Show 54

The Conference Call 55

Float Management 57

Summary 59

Chapter 5 The Investment Community 61

Introduction 61

The Analyst’s Perspective 61

Finding the Right Analyst 63

The Sell Side 64

Analysts 64

Brokers 67

Investment Bankers 69

Investor Relations Specialists 70

The Buy Side 70

Types of Investors 70

Institutional Investors 71

Individual Investors 73

Investment Clubs 75

Foreign Investors 76

Presentations to Investors 76

Summary 77

Chapter 6 Regulation FD (Fair Disclosure) 79

Introduction 79

Policies 80

Procedures 82

Controls 83

Summary 86

Chapter 7 Stock Repurchases 87

Introduction 87

Impact on Earnings per Share 87

Legal Ramifications 88

SEC Reporting 89

Adequate Disclosure and Repurchase Instructions 90

Impact of Repurchases on Rule 13e-3 91

Summary 91

Part III Dealing with the Securities and Exchange Commission 93

Chapter 8 Registration Statements 95

Introduction 95

Form S- 1 95

Form S- 3 98

Form S- 8 99

The Shelf Registration 100

Declaring a Registration Statement Effective 100

Controls 101

Summary 102

Chapter 9 Regulation D (Sale of Unregistered Securities) 103

Introduction 103

Policies 104

Procedures 105

Controls 109

Summary 112

Chapter 10 Rule 144 (Registration Exemption for Resale of Securities) 113

Introduction 113

Procedures 115

Controls 115

Summary 117

Chapter 11 Rule 10b5-1 (Stock Trading Plans) 119

Introduction 119

Policies 122

Summary 123

Chapter 12 Regulation A (Small Issue Exemption) 125

Introduction 125

Policies 127

Procedures 127

Controls 129

Summary 132

Chapter 13 Fedwire Payments 133

Introduction 133

Summary 135

Chapter 14 Form 8-K 137

Introduction 137

Controls 144

Summary 145

Chapter 15 Insider Securities Ownership and Trading 147

Introduction 147

SEC Filing Codes 151

Short-Swing Profits 153

Short Sales by Insiders 154

Policies 154

Controls 154

Summary 154

Chapter 16 Proxy Solicitations 157

Introduction 157

Online Proxy Voting 161

Policies 164

Procedures 165

Controls 169

Summary 170

Chapter 17 Regulation M-A (Mergers and Acquisitions) 171

Introduction 171

Policies 174

Procedures 177

Controls 179

Summary 182

Chapter 18 Private Securities Litigation Reform Act (Forward-Looking Statements) 183

Introduction 183

The Private Securities Litigation Reform Act 184

Forward-Looking Statements 185

Policies 188

Procedures 189

Controls 190

Summary 193

Chapter 19 Sarbanes-Oxley Act 195

Introduction 195

The Public Company Accounting Oversight Board 195

Auditor Independence 197

Corporate Responsibility 198

Enhanced Financial Disclosures 201

Analyst Conflicts of Interest 202

Other Significant Parts of the Act 203

Summary 204

Part IV Special Accounting Standards for a Public Company 205

Chapter 20 Interim Reporting 207

Introduction 207

Example of Interim Reporting of Various Expenses 208

Second Example of Interim Reporting of Various Expenses 209

Policies 210

Procedures 210

Controls 211

Disclosures 212

Summary 213

Chapter 21 Segment Reporting 215

Introduction 215

Policies 217

Procedures 219

Controls 220

Disclosures 220

Summary 222

Chapter 22 Earnings per Share 225

Introduction 225

The Simple Capital Structure 225

Example of EPS Computation—Simple Capital Structure 226

Preferred Stock Dividends Payable in Common Shares 230

The Complex Capital Structure 231

Example of the Impact of Contingent Stock Issuances on Earnings per Share 232

Examples of EPS Computation—Complex Capital Structure 235

Participating Securities and the Two-Class Method 240

Example—Participating Convertible Preferred Stock 241

Example—Participating Convertible Debt Instrument 242

Example—Participating Warrants 243

The Effect of Contracts That May Be Settled in Stock or Cash on DEPS 244

Inclusions/Exclusions from Computation of DEPS 245

The Effect of Contingently Convertible Instruments on DEPS 245

Example—Contingently Convertible Debt with a Market Price Trigger 246

Effect on EPS of Redemption or Induced Conversion of Preferred Stock 246

Earnings per Share Implications of Share-Based Employee Compensation 247

Presentation of Earnings per Share 248

Controls 249

Summary 250

Chapter 23 Staff Accounting Bulletins 251

Introduction 251

Selected Staff Accounting Bulletins 252

Summary 255

Chapter 24 Regulation G (Non-GAAP Information) 257

Introduction 257

Policies 258

Procedures 259

Controls 261

Reporting Examples 262

Summary 264

Part V Closing The Books of A Public Company 267

Chapter 25 Constructing and Filing the Quarterly 10-Q and Annual 10-K Reports 269

Introduction 269

Constructing the SEC Filing 269

Quarterly Auditor Reviews and Audits 276

Quarterly Legal Review 279

Officer Certification 279

Audit Committee Approval 280

EDGARizing 281

Summary 283

Chapter 26 Controls for Financial Reporting 285

Introduction 285

Controls for Financial Reporting 285

Summary 295

Part VI Going Private 297

Chapter 27 How to Take a Company Private 299

Introduction 299

The Going Private Transaction 299

Rule 13e-3 300

Filling Out Schedule 13E-3 301

Form 15 304

The 300 Shareholder Limit 304

Summary 305

Appendix A Board Questionnaire 307

Index 311


Steven M. Bragg, CPA, has been the chief financial officer or controller of four companies, as well as a consulting manager at Ernst & Young and an auditor at Deloitte & Touche. He received a master's degree in finance from Bentley College, an MBA from Babson College, and a bachelor's degree in economics from the University of Maine. He has been the two-time president of the Colorado Mountain Club, is an avid alpine skier and mountain biker, and is a certified master diver. Mr. Bragg resides in Centennial, Colorado. He is also the author of Accounting Best Practices and Accounting Policies and Procedures Manual, Fifth Edition (both published by Wiley).



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