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Annual report, yearly report on a company's activities; Financial reporting, formal record of the financial activities and position of a business, person, or other entity; SEC filings, type of financial statements in the United States
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.
A report is a document or a statement that presents information in an organized format for a specific audience and purpose. Although summaries of reports may be delivered orally, complete reports are usually given in the form of written documents. [1] [2] Typically reports relay information that was found or observed. [2]
Small business owners face severe penalties if they don't report to the federal government by year's end. Thousands of businesses may not realize they are subject to a new reporting process ...
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]
Income statements may help investors and creditors determine the past financial performance of the enterprise, predict the future performance, and assess the capability of generating future cash flows using the report of income and expenses. It is very important for the business. However, information of an income statement has several limitations: