annual accounts
Fiscal year summary
Annual accounts are the financial statements a company or organization produces at the end of each fiscal year, summarizing its financial position and performance.
They typically include a balance sheet, income statement, and cash flow statement.
In the UK and other Commonwealth countries, annual accounts is the standard term; Americans more often say annual report or financial statements.
The charity must file its annual accounts with the regulator.
Assets-liabilities-equity report
- profit and lossNet financial results
- income statementPeriodic profit-loss report
- cash flow statementReport of money entering, leaving
- retained earningsProfits kept by company
assets · liabilities · equity · revenue · expenses · depreciation · amortization · dividends
Formal records of transactions
- auditorFinancial records examiner
- verificationProving something accurate
- complianceAdhering to requirements
- examinationMethodical assessment or review
review · scrutiny · internal control · GAAP · reconciliation · materiality · certification · due diligence
Estimating future conditions
- varianceSpread around the mean
- allocationDistribution of shares
- projectionSomething that extends outward
- targetsIntended aims or marks
estimates · fiscal year · expenditure · cashflow · planning · capital · resources · funds
Act of revealing information
- clarityState of being understandable
- accessibilityEase of approach
- opennessQuality of being accessible
- integrityMoral soundness and consistency
comprehensibility · legibility · public record · corporate governance · shareholder rights
balance sheet
Assets-liabilities-equity report
- profit and lossNet financial results
- income statementPeriodic profit-loss report
- cash flow statementReport of money entering, leaving
retained earnings · assets · liabilities · equity · revenue · expenses · depreciation · amortization · dividends · shareholder equity
financial statements
Formal records of transactions
- auditorFinancial records examiner
- verificationProving something accurate
- complianceAdhering to requirements
examination · review · scrutiny · internal control · GAAP · reconciliation · materiality · certification · due diligence · ledger
forecasting
Estimating future conditions
- varianceSpread around the mean
- allocationDistribution of shares
- projectionSomething that extends outward
targets · estimates · fiscal year · expenditure · cashflow · planning · capital · resources · funds · performance
disclosure
Act of revealing information
- clarityState of being understandable
- accessibilityEase of approach
- opennessQuality of being accessible
integrity · comprehensibility · legibility · public record · corporate governance · shareholder rights
- accountingbookkeeping, ledger, balance sheet, general ledger, auditing
- business accountingaccrual, balance sheets, bookkeeping, balance sheet, auditor
- corporate taxcorporate tax, corporation tax, corporate taxation, taxable income, tax liability
- taxationtax, income tax, sales tax, tax return, tax refund
- private companiesstartup, Ltd, LLC, partnership, sole proprietorship
- commercial lawcommercial law, trade law, commercial transactions, business contracts, trade regulations
annual, accounts, account, annually, annuals, annuity, annuities, anniversary, anniversaries