What is an Annual Report?
Reports created annually that provide an analysis and assessment of trends in the past year.
An annual report is an end of the financial year formal fiscal document that details and analyses the company’s financial progress, achievements and corporate earnings as well as highlights the areas that require attention and development. It is designed with the company stakeholders, creditors, board members and investors in mind. The report also delineates the prominent market trends and gives the readers an in-depth understanding of the company’s current financial position.
ANNUAL REPORT DESIGN:
Although annual reports contain detailed financial information, that doesn’t mean to say they have to be boring. Your annual report design and layout can assist in accurately conveying your company’s corporate earnings and financial status in an easy-to-absorb manner, while maintaining brand integrity.
ANNUAL REPORT CONTENTS:
- An explanation of company accounting practices i.e. a description of the principles for determining the status of the company’s assets, income statement, balance sheet (creditors & debtors) as well as a the company’s stock inventory (if applicable).
- All financial statements.
- Information on any events that have had an impact on the company’s financial performance.
- Auditor’s report, if applicable.
- Management’s statement to confirm that the annual report accurately depicts the company’s performance in that fiscal year.
- Market trends for the past and current financial year.
*Not all companies need to prepare an annual report. The necessity for one largely depends on the size and type of organisation.
