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Annual Statement

What Does Annual Statement Mean?

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

Insurance companies are among the organizations that produce annual statements.

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Insuranceopedia Explains Annual Statement

An annual statement may contain many financial details, including a company's profit and loss account and its balance sheet. If an annual statement reveals a large profit in the past year, it can indicate that the company is going in the right direction, while declining profits can be a source of concern.

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