An annual report is a document companies are required to file with the US Securities and Exchange Commission (SEC) that details their financial performance over the previous fiscal year. The report includes a balance sheet, income statement, and cash flow statement, as well as information on the company's directors, officers, and shareholders. It also includes a description of the company's business and a management discussion and analysis of the previous year's financial results.
There are a few key ways in which the annual report of a public company differs from the annual report of a private company. For one, private companies are not required to file audited financial statements with the SEC, while public companies are. Additionally, the annual report of a public company must include a Form 10-K, which is a detailed report of the company's financial performance. The annual report of a private company is not required to include this information. Finally, the annual report of a public company must include a proxy statement, which is a document that discloses information about the company's directors and officers and allows shareholders to vote on matters such as the election of directors. Private companies are not required to include a proxy statement in their annual reports.
An annual report should contain an overview of the company's performance over the past year, including a description of its operations and financial results. It should also provide a summary of the company's financial condition, as well as information about its management and governance. The report should also include an outline of the company's future plans and objectives.
An annual report should be long enough to provide a comprehensive overview of the company's performance for the year, but it should not be so long that it becomes burdensome to read. The report should be well-organized and easy to navigate, with clear sections that highlight the company's key accomplishments and financial results. It should also include information about the company's future plans and how it intends to continue growing and improving.