Management discussion and analysis (md&a) - sustany/dvg GitHub Wiki

Management discussion and analysis (MD&A) refers to Item 303 of Regulation S-K which requires the registrant�s management to give a narrative discussion of the company�s financial performance.�

Item 303(a) states that the objective of the management�s discussion and analysis (MD&A) is �to provide material information relevant to an assessment of the financial condition and results of operations of the registrant.� This requires the registrant to discuss: liquidity and capital resources; financial results of operations, including �unusual or infrequent events� and �any known trends or uncertainties�; and critical accounting estimates, that is, �estimates made in accordance with generally accepted accounting principles that involve a significant level of estimation uncertainty.�