Annal report Assignment Example | Topics and Well Written Essays - 250 words

Annal report - Assignment Example Most stock exchanges prefer continuous illustration of the accounting performance of the listed companies (Stanley, 2009). Examples of basic annual accounting records include; Trading profit and loss account, balance sheet, general corporate information, cash flow statement, accounting policies, director report, auditor report, and financial review. Other relevant financial information required by stakeholders include; corporate social responsibility information, that illustrates social and environmental sensitive activities. The details shown in the annual accounting reports are utilized by investors in determining the present financial position of the company, in relation to the future financial and operation direction. In the United States of America, a relatively complex financial report referred to as the Form 10-K is legally filed at the U. S. Securities and Exchange Commission (William, 2011). The authority and responsibilities associated with preparation of the annual accounting reports and associated financial statements=, lies with the company directors. The directors choose the most appropriate accounting approaches, and then use them consistently. The applicable accounting procedures must adhere to the professionally accepted accounting principles (Richard,