A report prepared by a company each year after its year end. It sets out what the company does, how it has performed over the year and its financial position.
The annual accounts will normally cover 12 months, but can be for a shorter or longer period. They typically include:
- a financial summary
- a Chairman’s statement covering issues such as performance, dividends, the company’s use of gearing etc.
- a review by the fund manager of how the portfolio has performed, any changes that have been made and its prospects for the future
- a corporate governance statement
- a detailed set of financial statements
See also interim accounts and half yearly report