Annual accounts report on a completed financial year. Basic commercial rules comprise a balance sheet and profit and loss account; corporations face additional requirements and size-dependent relief.
Meaning and context
Corporate accounts generally also include notes. A management report is a separate report rather than another name for the annual accounts. Preparation and disclosure depend on the applicable rules.
What the documents show
Public documents may be abbreviated. Smaller companies do not necessarily publish a complete profit and loss statement. A missing public item does not therefore establish that it was never prepared internally.
Research tip
Check the legal entity, financial year, reporting date and publication date. The most recently published accounts are not a real-time report and may concern a much earlier period.