Putting,Together,Annual,Report business, insurance Putting Together an Annual Report For Your Company
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If you are saddled with the task of compilingan annual report for your company, here are a few quick tips to get youstarted. Get Your Numbers Together The basic purpose of an annual report is to present the financialstatus of your organization and a vision of the future (this goes fornonprofits as well). In order to get the information you need, you willhave to have some meetings with your financial people, as well as thosewho are in charge of what direction the company is planning on takingin the future. Organize the Report Depending on your for profit/nonprofit status, there are certain thingsthat must be included in your annual report. You should consult withsome legal and financial advisers who have some experience in thesematters for information on what your annual report mus include. Hereare some of the basics, however: 1. Income Statement/Balance Sheet: Gives a report on your financialstatus, such as detailed explanations of your net income or loss forthe year. You may have to list assets and liabilities, and shareholderequity. 2. Cash Flow Statement: a report on the liquidity of your company, and how cash moves through your business. 3. Risks: a detailed account of current and presumed future risks your company might face. 4. Notes: here is where you will detail your accounting practices, aswell as how the information you are presenting was gathered andprocessed. If your company is publicly traded, there must be a sectionwherein a senior officer states that accounting meets the requirementsof the Sarbanes-Oxley Act. Designing and Binding If photography, design, and copywriting are skills that you do notpossess, you may have to hire professionals, or find some people whoare willing to donate their services if you are a non profit. It isimportant that your annual report look as professional as possible, butif your company has faced some challenges in the previous year, you maynot have the kind of budget you might like. In that case, find somewriters and/or artists who are just starting out and may work for less.As far as printing and binding, there are a few different styles thatmay suit an annual report. Spiral coil, twin loop, and thermal bindingare three that you may want to consider. If your company is juststarting out and looking to save some money, consider purchasing one ofthese binding machines and doing the work yourself. Order You will want to start with a letter from your most senior officer. Hisor her message should include an overview of the year's high points,and a summary of financial performance written in layman's terms. After that, the order of what you present is up to you. Have a look atsome other annual reports and borrow ideas from the ones that you like.How you present this material is entirely up to you, but in the overallnarrative you will, of course, want to put as positive a spin on yoursituation as possible. If things have been going well for you, and aregoing to continue in that way, by all means, let the world know. If youhave struggled, try to put as much emphasis as you can on the aspectsof your year that showed promise. Article Tags: Annual Report
Putting,Together,Annual,Report