Using 10-K filings as sources in Capella business papers

What a 10-K contains for Capella analysis

A 10-K is a public company's annual report to the SEC. Key sections include the business description, which explains products, markets and strategy; risk factors; management's discussion and analysis, which explains results and trends; and the financial statements with notes.

Each section serves different assessments. Strategy papers draw on the business description and risk factors. Accounting and finance papers draw on the statements and notes. The capstone draws on all of them.

Because 10-Ks are audited and regulated, they are far more reliable than news articles or company marketing.

Finding 10-K filings for Capella papers

The SEC's EDGAR database provides free access to filings for U.S. public companies. Search by company name, filter for 10-K and choose the most recent year. Most listed firms also publish their annual reports for shareholders online.

Annual reports to shareholders sometimes differ in format from the 10-K but contain similar information. Use whichever your assessment requires, and be consistent.

Use the most recent filing available unless your analysis requires several years.

Filings from earlier years are also available on EDGAR, which helps when an assessment asks for several years of data. Saving each filing as a PDF keeps your sources organized.

Using 10-K financial statements in Capella courses

For ratio and trend analysis, the 10-K provides income statements, balance sheets and cash flow statements, usually with two or three years of data. Earlier filings provide additional years.

Record figures carefully, noting units, which are often thousands or millions. Notes to the financial statements explain accounting choices and items such as debt and leases.

Courses such as MBA FPX 5010, MBA FPX 5014 and BUS FPX 4060 use this information directly.

Copying figures into a spreadsheet with a note on the page and year of each number makes your work easy to check.

Using 10-K risk factors and MD&A at Capella

Risk factors list the threats management considers material, such as competition, regulation and supply chain risks. They are valuable for SWOT and PESTEL analyses.

Management's discussion and analysis explains why results changed, management's view of trends and planned actions. It helps you interpret financial ratios and evaluate strategy.

Treat management's statements as a perspective, and test them against data and outside sources.

Risk factors are written defensively, so they list many risks; your analysis should judge which ones matter most and why. Comparing them with a competitor's risk factors can reveal what is distinctive about the company.

Citing a 10-K in APA 7 at Capella

In APA 7, cite a 10-K with the company as author, the year of the filing, the title, such as Form 10-K, a description in brackets if helpful, and the URL. In text, cite the company and year.

If you cite several years of filings, cite each separately. If you cite an annual report from the investor site rather than EDGAR, cite it as a report from the company.

Check the Capella APA guide for the exact format your faculty expect.

Combining 10-Ks with other sources at Capella

A 10-K tells the company's story; other sources provide context. Industry reports, market data, scholarly research on strategy or finance and reputable business news add perspective.

Faculty expect scholarly sources alongside company data, especially for frameworks and theory. A strategy paper might cite the 10-K for facts and peer-reviewed research for the strategic framework.

Balanced sourcing strengthens analysis and avoids simply repeating management's view.

Analyst reports and reputable financial news can explain market reactions and recent events that a filing does not yet cover. Use them carefully, citing each source and noting its date.

Choosing a company for Capella assessments

Choose a company with clear filings, a business you understand and enough news and analysis to support your work. Large public companies in industries you know often work well.

Using the same company across several courses saves time and creates a strong capstone foundation. Avoid private companies unless the assessment allows them, because their financial data are not public.

If you use your employer and it is public, its 10-K can be a rich source, though you should rely on public information only.

Common 10-K mistakes in Capella papers

Common mistakes include using outdated filings, ignoring units, copying management's claims without evaluation, citing the 10-K for theory it does not contain and relying on summaries from financial websites instead of the filing.

Another is skipping the notes to the financial statements, which often explain unusual figures.

Students also sometimes cite figures from financial websites that differ slightly from the filing because of adjustments or different definitions. Using the filing itself avoids that confusion. Finally, some papers quote long passages from the 10-K instead of analyzing them; paraphrase and evaluate instead.

Getting help with company analysis at Capella

The Capella library offers business databases with company and industry information, and librarians can help you find reports. The Writing Center can help with APA citations.

Some students work with MBA-trained writers who build company analyses and models from filings. Whatever help you use, verify figures against the original filing.

Faculty can also tell you whether a particular company suits an assessment, which saves time if a company's filings turn out to be thin or unusually complex.

Business librarians can also point you to industry benchmarks to compare with the filing.

10-K filings across Capella business courses

The same 10-K can serve many courses. In MBA FPX 5006 it supports strategic analysis. In MBA FPX 5010 and BUS FPX 4060 it provides statements to read and interpret. In MBA FPX 5014 it supports ratio analysis and capital structure discussion. In MBA FPX 5012 its business description helps define markets and segments. In the capstone it underpins integrated analysis.

Choosing one company early and keeping its filings, figures and notes in one folder saves time in every course and gives your capstone a strong foundation.

Capella alternatives to 10-Ks for nonprofit and health care organizations

Nonprofit organizations, including many hospitals, do not file 10-Ks, but they file other public documents. Nonprofit hospitals file IRS Form 990, which includes financial information, and many publish audited financial statements. Public health systems with bonds may post continuing disclosures.

Health administration students can use these sources in place of 10-Ks, citing them in APA style with the organization as author.

Form 990 data for many nonprofits is searchable online, and hospital price and quality data from CMS can supplement it. Check with faculty whether these sources meet the assessment's requirements before relying on them.