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Definition of

annual report and accounts

Corporate Governance

document reporting company's business performance a document prepared each year to give a true and fair view of a company's state of affairs.

Annual reports are issued to shareholders and filed at the Securities and Exchange Commission in accordance with the provisions of company legislation. Contents include a profit and loss account and balance sheet, a cash flow statement, auditor's report, directors' report, and, where a company has subsidiaries, the company's group accounts. The financial statements are the main purpose of the annual report, and usually include notes to the accounts. These amplify numerous points contained in the figures and are critical for anyone wishing to study the accounts in detail.

Related definitions of "annual report and accounts"

Recommended Further Reading (Term count)
  • The Audit Committee and Corporate Governance
    by Richard Wilson
    The main role of the audit committee comes down to providing delegated board oversight over financial reporting and financial risk management. Maintaining a continuing dialog with the internal and external auditors is very much a central part of the audit committee’s activities, as is its relationship with the finance director and the finance team. Understanding the way risk is identified and managed within the organization is also central....

Definitions of ’annual report and accounts’ and meaning of ’annual report and accounts’ are from the book publication, QFINANCE – The Ultimate Resource, © 2009 Bloomsbury Information Ltd. Find definitions for ’annual report and accounts’ and other financial terms with our online QFINANCE Financial Dictionary.

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