is the audited annual report that most reporting companies file with the Securities and Exchange Commission (SEC). It provides a comprehensive overview of the registrant's business. The report must be filed within 90 days after the end of the company's fiscal year.

- Used to prepare and present financial statements and disclosures.
- Used when classifying items and explaining accounting impacts to users of the financials.

- Example: During financial statement preparation, **10-k** guides how information is presented and disclosed.

- Why it matters: Enhances transparency, improves comparability, and reduces misunderstanding by stakeholders.