Annual Statement

What Does Annual Statement Mean?

An annual statement is a report that provides an overview of a company’s financial performance for the previous year. These statements are not only relevant for government regulation and helping a company assess its current financial condition, but they are also used by investors to gather information about companies.

Insurance companies are among the organizations that produce annual statements.

Insuranceopedia Explains Annual Statement

An annual statement may include various financial details, such as a company’s profit and loss account and balance sheet. If the statement reveals a significant profit for the past year, it can suggest that the company is on the right track. Conversely, declining profits may raise concerns.