Annual Reports

All companies and also many other organizations are legally required to produce an annual report. Over the years the purpose, nature and content of annual reports have dramatically changed. Increasing numbers of companies are realizing that the annual report is not just concerned with producing legal and accounting information. More significantly, companies can use their annual report to communicate corporate messages and to promote influential images and themes to a wide range of leading stakeholders such as shareholders, employees, bankers, customers and the general public. But how is this to be done effectively? This book concentrates on ensuring that the "corporate message" is communicated to stakeholders in a way that maximizes the value of the annual report and outlines how this might best be achieved. It explains the importance not only of the quantitative (accounting) information but also the qualitative content such as the chairman's statement, directors' report, operating and financial review, explanatory notes and so on. Particular recognition is given to the legal, stock exchange and professional accounting requirements as well as to the increasingly important but more discretionary areas of content such as social, environmental and ethical reporting issues. Crucially, the book discusses the importance of electronic communication now that legislation allows companies to deliver information over the internet. On a practical level, the book takes the reader through the procedures and processes in actually managing the preparation and production of the report. Both the practical and theoretical aspects of the book are placed in context by the use of relevant extracts taken from "real-life" annual reports of major organisations. By using these authentic examples the book highlights what works and what doesn't.