annual financial statements

Definition

A report created annually that quantifiably describes the financial viability of a company. This includes a statement of income, statement of changes in net worth and a balance sheet. It also often includes a cash flow statement. These elements should be tracked on a monthly basis for the most accurate reporting.

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Our annual financial statements were in and it told us that we were doing very well and we needed to do better too.

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The annual financial statements were reviewed by the chief financial officer who tasked the senior financial analyst with their preparation.

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At the end of the year, employees from all of the company's departments worked together to assemble the findings needed to post the annual financial statements.

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