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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.
Financial statements (or financial reports) are formal records of the financial activities and position of a business, person, or other entity. Relevant financial information is presented in a structured manner and in a form which is easy to understand.
According to McKinney, "governments stress how transactions will affect near-term financing...[and] decisions are related to annual or biannual appropriations, emphasizing balances and transactions related to near-term government financing - the operating budget." [2] (2004, p. 475). For the American context, see Form 10-Q.
The auditor's report is modified to include all necessary disclosures by either presenting the report subsequent to the report on the financial statements, or combining both reports into one auditor's report. The following is an example of the former version of adding a separate report immediately after the auditor's report on financial statements.
A directors' report is a document produced by the board of directors, which details the state of the company and its compliance with a set of financial, accounting and corporate social responsibility standards. It is usually produced annually and must be disclosed to the public.
For instance, while your old 401(k) might charge 0.50% or more in annual management fees, many IRA providers charge no annual management fees and use low-cost index funds with expenses under 0.10%.
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