Best Buy 8-K - Essay Example

Best Buy 8-K 8-k is a report that shows all the unscheduled corporate changes and material events in a company this information is very important to the stakeholders and the “Security and Exchange Commission”. Some of the events that are reported in an 8-k report include acquisition, resignation of directors and bankruptcy. This paper analyzers the latest 8-k report for “Best Buy 8-K” and finds out the topics that are included in the report. This report contains all information regarding the company; this is in terms of the address and all contact information of the company.

Importantly, it addresses all the rules that the report must follow in its formatting. The rules are commonly stipulated under the security and the exchange act (Securities And Exchange Commission 1). On 9 April 2012, the chief executive officer reported to the company’s board of directors that he was resigning, the Chief Executive Officer’s resignation, was effective the following day. All the relevant information, which regarded his departure was to be documented and filed. Here, the report addresses the resignation of a member of the company; in essence, this is one of the functions of an 8-k report (Securities And Exchange Commission 1).

Under the same title, the report addresses the assigning of a new chief executive officer in the office. This temporary assignment can only hold as the board searches for another chief executive officer to take the open position. The report also states the qualifications of the new chief executive officer including his past positions. An amendment to this report was to include the terms that relate to his assignment. The report also includes the names of the assigned chairperson under whom the new chief executive officer will serve (Securities And Exchange Commission 1).

Under the next title, the report addresses the news release that reported the resignation and the assignment of a new chief executive officer. The report states that the news report was released on 10 April and, it is in this report that it is assigned Exhibit 99. The report also states that all information regarding the registrant could be accessed from the annual report to the shareholders and on forms 10-Q and 10-K and this report among much other publicly available information (Securities And Exchange Commission 1).

The report’s bottom contains the tabling of any exhibits that have been used in the report; this is under the title of Financial Statements and Exhibits. Evidently, the report provides a detailed description of the exhibits listed. The report acknowledges that there might be some internet web addresses on the form; however, the report goes ahead and states that this addresses are only used for reference purposes and not for hyper-linking (Securities And Exchange Commission 1). Under the final topic of signatures, the report states the act, which governs this area.

The act determines who is authorized to sign this document, the name of the company, take up the position of the registrant and the date at which the report was signed (Securities And Exchange Commission 1). From the example, it is discovered that a report is used for the purposes of documenting major changes in the company. The appointment or resignation of the company’s chief executive officer is a major event in the company and should be included in the report; any exhibits that are used in the report must be documented in the report.

The formatting of a report is governed under the security and exchange acts. Works cited Securities And Exchange Commission. BEST BUY CO., INC. Electronic. Retrieved from; http://www.sec.gov/Archives/edgar/data/764478/000076447812000030/bby8k041012.htm.