annual report

  

Definition

Presentation of a firm's audited accounts for the preceding year, as required in corporate legislation. In addition to the auditor's report, an annual report commonly includes (1) management's review of the operations of the firm and its future prospects, (2) balance sheet, (3) income statement (profit and loss account), (4) cash flow statement, and other supporting documents. Also called annual accounts.

Use annual report in a sentence

  • Since he was being offered the opportunity to purchase the business, which included both buildings and the machine shop, he requested the annual report, in order to make a more sound decision.

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  • You should try to break down your annual report and see where you went wrong and how to improve the next year.

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  • You need to write up a thorough annual report so that anyone who looks at it will understand why you made the decisions.

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