Legal Dictionary of Pakistan

annual report

a yearly corporate financial report for shareholders and other interested parties. ( the securities exchange act of 1934 requires registered corporations to file an annual report on the sec's form 10-k. an annual report includes a balance sheet, income statement, statement of changes in financial position, reconciliation of changes in owners' equity accounts, a summary of significant accounting principles, other explanatory notes, the auditor's report, and comments from management about prospects for the coming year. - also termed annual statement; financial report.