1.1 Overview
This Roadmap does not reflect updates to the FRM made
after May 2025. See Preface for details.
As part of ensuring that investors receive relevant financial
information about a company’s key activities, the SEC requires registrants to report
financial information about significant acquired or to be acquired businesses and
real estate operations in certain filings under Regulation S-X, Rules 3-05 and 3-14, respectively. Those
requirements, as well as the SEC’s related guidance on pro forma financial
information under Regulation S-X,
Article 11, are discussed in this Roadmap.
In May 2020, the SEC issued a final
rule that amends the financial statement requirements for
acquisitions and dispositions of businesses, including real estate operations, and
related pro forma financial information. The final rule is effective for fiscal
years beginning after December 31, 2020; however, early application is permitted.
This Roadmap outlines general considerations related to the new requirements for
domestic SEC registrants under the final rule.