Annual report

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					Annual report
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An annual report is a comprehensive report on a company's activities throughout the preceding year. Annual reports are
intended to give shareholders and other interested people information about the company's activities and financial
performance. Most jurisdictions require companies to prepare and disclose annual reports, and many require the annual report
to be filed at the company's registry. Companies listed on a stock exchange are also required to report at more frequent
intervals (depending upon the rules of the stock exchange involved).

Typically annual reports will include [1] :
   Accounting policies
   Balance sheet
   Cash flow statement
   Contents: non-audited information
   Profit and loss account
   Notes to the financial statements
   Chairpersons statement
   Directors’ Report
   Operating and financial review
   Other features
   Auditors report
Other information deemed relevant to stakeholders may be included, such as a report on operations for manufacturing firms
or corporate social responsibility reports for companies with environmentally or socially sensitive operations. In the case of
larger companies, it is usually a sleek, colorful, high gloss publication.
The details provided in the report are of use to investors to understand the company's financial position and future direction.
The financial statements are usually compiled in compliance with IFRS and/or the domestic GAAP, as well as domestic
legislation (e.g. the SOX in the U.S.).
In the United States, a more-detailed version of the report, called a Form 10-K, is submitted to the U.S. Securities and
Exchange Commission.[2] A publicly held company may also issue a much more limited version of an annual report, which is
known as a "wrap report." A wrap report is a Form 10-K with an annual report cover wrapped around it. [3]
Statement of Directors’ responsibilities for the shareholders’ financial statements
The Directors are responsible for preparing the Annual Report and the financial statements in accordance with applicable Irish
law and Generally Accepted Accounting Practice in Ireland including the accounting standards issued by the Accounting
Standards Board and published by The Institute of Chartered Accountants in Ireland Irish company law requires the directors
to prepare financial statements for each financial period which give a true and fair view of the state of affairs of the company
and of the profit or loss of the company for that period. In preparing these financial statements, the Directors are required to -
select suitable accounting policies and then apply them consistently; - make judgments and estimates that are reasonable and
prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company
will continue in business.
The directors confirm that they have complied with the above requirements in preparing the financial statements. The
directors are responsible for keeping proper books of account that disclose with reasonable accuracy at any time the financial
position of the company and to enable them to ensure that the financial statements are prepared in accordance with
accounting standards generally accepted in Ireland and with Irish statute comprising the Companies Acts 1963 to 2009.

See also
   Green annual report
   Green Annual Reports
  Use Annual Reports to enhance Trust[4]

References
  1. ^ Annual Report and Accounts - Contents http://tutor2u.net/business/accounts/annual-report-and-accounts-contents.htm
  2. ^ Dictionary of Finance and Investment Terms by John Downes and Jordon Elliot Goodman Barron 1995 ISBN 0-8120-9035-7
     page 23
  3. ^ http://www.accountingtools.com/definition-wrap-report
  4. ^ http://www.thehindubusinessline.com/opinion/columns/d-murali/article2319536.ece

External links


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