An annual report is a document that public corporations must provide annually to shareholders that describes their operations and financial conditions. The front part of the report often contains an impressive combination of graphics, photos, and an accompanying narrative, all of which chronicle the company’s activities over the past year and may also make forecasts about the future of the company. The back part of the report contains detailed financial and operational information.

Why Is an Annual Report Important?

Both public and private companies use annual reports to provide important business and financial information to customers, investors, employees, and the media. Here are some reasons why an annual report is necessary for businesses:

• Provides an opportunity to highlight a company’s key achievements, expectations for the coming year, and overall goals and objectives
• Gives information on the company’s financial position
• Introduce you’re the key members of the business to stakeholders and the general public
• Tells shareholders and employees the company’s strategy for growth in the coming year
• Useful as a decision-making tool for managers

The annual reports keep your critical business information up to date. A failure by public companies to update the investors and the state might result in late fees or even dissolution of your company.

The six basic components of an annual report are:

• The shareholder’s letter
• General description of the industry
• Audited Income Statements
• Financial Position
• Cash Flow
• Explanatory notes

However, the format of the annual business report can be different due to particular business types and requirements. At turtle venture, we prepare each annual business report using accurate data based on companies’ performances and cross-check all the essential factors with industry experts to ensure the report’s quality. Throughout the entire process, our team maintains flawless connections with the company representative to ensure we are preparing the annual report correctly.