{"id":21327,"date":"2020-01-24T19:35:52","date_gmt":"2020-01-24T19:35:52","guid":{"rendered":"https:\/\/www.process.st\/templates\/annual-financial-report-template-3\/"},"modified":"2024-02-29T01:11:35","modified_gmt":"2024-02-29T01:11:35","slug":"annual-financial-report-template-3","status":"publish","type":"post","link":"https:\/\/www.process.st\/templates\/annual-financial-report-template-3\/","title":{"rendered":"Annual Financial Report Template"},"content":{"rendered":"<section id=\"introduction\">\n<h2>Introduction:<\/h2>\n<div class=\"image-content\">\n<figure>\n   <a href=\"https:\/\/www.process.st\/templates\/wp-content\/uploads\/2024\/02\/mzqmQ8zCmP-B0Lo45yFHQg.png\" alt=\"Introduction:\" target=\"_blank\" rel=\"noopener\"> <img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/www.process.st\/templates\/wp-content\/uploads\/2024\/02\/mzqmQ8zCmP-B0Lo45yFHQg.png\"> <\/a><br \/>\n  <\/figure>\n<\/p><\/div>\n<div class=\"text-content\">\n<p>The annual financial report provides an <strong>overview of a company's entire operations<\/strong> over the course of a year.&nbsp;<\/p>\n<p>The report summarizes<strong> financial activity<\/strong>&nbsp;while also including a <strong>message from the CEO<\/strong> and<strong> projections<\/strong> for the future.&nbsp;<\/p>\n<p>The annual financial report allows all <strong>stakeholders to see what is happening<\/strong> within the company, and may also be <strong>submitted to regulatory bodies<\/strong> for external reviews.&nbsp;<\/p>\n<p>This<strong> step by step guide<\/strong> will provide the CFO - or another person responsible for creating the report - with <strong>all the steps they need to compile the report<\/strong>.&nbsp;<\/p>\n<p><strong>See this video below<\/strong> for an explanation of how state-level organizations construct their annual financial reports.<\/p>\n<\/p><\/div>\n<div class=\"video-content\">\n<div class=\"iframe-container\">\n   <iframe src=\"https:\/\/www.youtube.com\/embed\/jCX1FaEBpRs?modestbranding=1&amp;showinfo=0\" frameborder=\"0\" allowfullscreen=\"true\"> <\/iframe>\n  <\/div>\n<div class=\"description\">\n    Explanation of a Comprehensive Annual Financial Report - txcomptroller\n  <\/div>\n<\/p><\/div>\n<\/section>\n<section id=\"gather-financial-statements\">\n<h2>Gather financial statements:<\/h2>\n<\/section>\n<section id=\"contact-accounting-department-for-financial-statements\">\n<h2>Contact accounting department for financial statements<\/h2>\n<div class=\"text-content\">\n<p><strong>Contact your accounting department<\/strong> and request the latest version of three essential financial statements:<\/p>\n<ul>\n<li>Balance sheet<\/li>\n<li>Income (profit and loss) statement<\/li>\n<li>Cashflow statement<\/li>\n<\/ul>\n<p><strong>Record the contact details<\/strong> of the individual managing financial statements below and <strong>use the email widget below<\/strong> to contact them.<\/p>\n<\/p><\/div>\n<div class=\"text-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Individual managing financial statements - First name <\/label><br \/>\n   <input type=\"text\" placeholder=\"Something will be typed here...\" disabled class=\"form-control\">\n  <\/div>\n<\/p><\/div>\n<div class=\"text-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Individual managing financial statements - Last name <\/label><br \/>\n   <input type=\"text\" placeholder=\"Something will be typed here...\" disabled class=\"form-control\">\n  <\/div>\n<\/p><\/div>\n<div class=\"text-content\">\n<p class=\"style-info\">If your team needs help to create those documents you can use our checklists below:<\/p>\n<p><a href=\"https:\/\/www.process.st\/templates\/balance-sheet-statement-preparation-checklist\/\" rel=\"nofollow noopener\" target=\"_blank\">Balance Sheet Statement Preparation Checklist<\/a><br \/><a href=\"https:\/\/www.process.st\/templates\/income-profit-and-loss-statement\" rel=\"nofollow noopener\" target=\"_blank\">Income (Profit and Loss) Statement Process<\/a><br \/><a href=\"https:\/\/www.process.st\/templates\/cash-flow-report\" rel=\"nofollow noopener\" target=\"_blank\">Cash Flow Report<\/a><\/p>\n<\/p><\/div>\n<\/section>\n<section id=\"determine-any-additional-sections-of-the-report\">\n<h2>Determine any additional sections of the report<\/h2>\n<div class=\"select-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Would you like to include a letter from the CEO? <\/label><br \/>\n   <select disabled class=\"form-control\"><option value=\"An option will be selected here\">An option will be selected here<\/option><\/select>\n  <\/div>\n<\/p><\/div>\n<div class=\"select-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Would you like to include an overview of the company's strategic plan? <\/label><br \/>\n   <select disabled class=\"form-control\"><option value=\"An option will be selected here\">An option will be selected here<\/option><\/select>\n  <\/div>\n<\/p><\/div>\n<div class=\"select-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Would you like to add section explaining the structure\/methodology used to compile the report? <\/label><br \/>\n   <select disabled class=\"form-control\"><option value=\"An option will be selected here\">An option will be selected here<\/option><\/select>\n  <\/div>\n<\/p><\/div>\n<div class=\"select-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Would you like to include a brief profile for members of senior management? <\/label><br \/>\n   <select disabled class=\"form-control\"><option value=\"An option will be selected here\">An option will be selected here<\/option><\/select>\n  <\/div>\n<\/p><\/div>\n<\/section>\n<section id=\"verify-financial-data\">\n<h2>Verify financial data:<\/h2>\n<\/section>\n<section id=\"check-liabilities-plus-equity-is-equal-to-total-assets\">\n<h2>Check liabilities plus equity is equal to total assets<\/h2>\n<div class=\"text-content\">\n<p>In your balance sheet report,&nbsp;<strong>check all calculations are correct<\/strong> and everything is accounted for.&nbsp;<\/p>\n<p>Make sure the value of your <strong>liabilities plus equity is equal to your total assets<\/strong>. This should be the final calculation in the process and it allows you to double check the other calculations.<\/p>\n<\/p><\/div>\n<\/section>\n<section id=\"check-retained-earnings-has-been-updated\">\n<h2>Check retained earnings has been updated<\/h2>\n<div class=\"text-content\">\n<p>In the income statement, check that the given figure for <strong>retained earnings has been updated<\/strong> from the previous year.&nbsp;<\/p>\n<p>Retained earnings provide&nbsp;you with a figure representing the<strong> net income\/losses since the foundation of the company.&nbsp;<\/strong><\/p>\n<\/p><\/div>\n<\/section>\n<section id=\"check-profit-before-taxes-is-present\">\n<h2>Check profit before taxes is present<\/h2>\n<div class=\"text-content\">\n<p>The result of a successfully completed income statement is understanding your <strong>profit before taxes.&nbsp;<\/strong><\/p>\n<p>Profit before taxes is calculated by <strong>deducting the total operating expenses from gross profit<\/strong>.<\/p>\n<p><strong>Double check this calculation<\/strong> has been done correctly.<\/p>\n<\/p><\/div>\n<\/section>\n<section id=\"add-the-increasedecrease-to-year-opening-cash-balance\">\n<h2>Add the increase\/decrease to year opening cash balance<\/h2>\n<div class=\"text-content\">\n<p>In the <strong>cash flow report<\/strong>, you need to check that the recorded<strong> cash flows are equal to the values recorded within the bank balances.&nbsp;<\/strong><\/p>\n<p>You can do this by finding the total calculated <strong>increase or decrease of cash<\/strong> and<strong> adding<\/strong> it to the opening<strong> cash balance at the beginning of the year.<\/strong>&nbsp;<\/p>\n<p>Then, check the figure <strong>corresponds with the actual cash balance<\/strong> at the end of the year.&nbsp;<\/p>\n<p>These two figures should align, demonstrating the calculations had been done correctly.&nbsp;<\/p>\n<\/p><\/div>\n<\/section>\n<section id=\"confirm-all-figures-are-correct\">\n<h2>Confirm all figures are correct<\/h2>\n<div class=\"text-content\">\n<p>After you have completed reviewing all key financial statements, <strong>confirm that all figures are accurate.&nbsp;<\/strong><\/p>\n<\/p><\/div>\n<div class=\"select-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Are all financial statements accurate? <\/label><br \/>\n   <select disabled class=\"form-control\"><option value=\"An option will be selected here\">An option will be selected here<\/option><\/select>\n  <\/div>\n<\/p><\/div>\n<\/section>\n<section id=\"describe-the-errors-that-have-been-identified\">\n<h2>Describe the errors that have been identified<\/h2>\n<div class=\"text-content\">\n<p><strong>Describe the errors in the form field below<\/strong> before contacting the relevant individual to request that they are amended as soon as possible.&nbsp;<\/p>\n<\/p><\/div>\n<div class=\"textarea-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Description of errors in the financial statements <\/label><br \/>\n   <textarea placeholder=\"Something will be typed here...\" rows=\"3\" disabled class=\"form-control\"><\/textarea>\n  <\/div>\n<\/p><\/div>\n<\/section>\n<section id=\"request-errors-to-be-amended\">\n<h2>Request errors to be amended<\/h2>\n<div class=\"text-content\">\n<p>You can<strong> record the contact details<\/strong> of the individual managing financial statements and <strong>use the email template below to<\/strong>&nbsp;<strong>request that the errors be amended<\/strong> as soon as possible.&nbsp;<\/p>\n<\/p><\/div>\n<\/section>\n<section id=\"add-a-section-explaining-the-reports-structure\">\n<h2>Add a section explaining the report's structure<\/h2>\n<div class=\"text-content\">\n<p>Include a notes section after your financials where you can<strong> explain the layout of the reports.<\/strong>&nbsp;<\/p>\n<p>This area will allow you to<strong> add clarity to the financial reports<\/strong> and<strong> annotate them where necessary<\/strong>. There may be certain<strong> figures you wish to highlight<\/strong> or others you wish to explain. This area provides you with the opportunity to do so.&nbsp;<\/p>\n<p class=\"style-info\">Also,<strong> consider&nbsp;outlining your methodologies<\/strong> so that when others review the report they can understand how you approached the numbers.&nbsp;<\/p>\n<\/p><\/div>\n<\/section>\n<section id=\"letter-from-the-ceo\">\n<h2>Letter from the CEO:<\/h2>\n<\/section>\n<section id=\"send-your-ceo-the-financial-overview\">\n<h2>Send your CEO the financial overview<\/h2>\n<div class=\"text-content\">\n<p><strong>Send the CEO of the company the financial reports for review<\/strong>.&nbsp;<\/p>\n<p>The CEO should provide<strong> a letter to add to the report<\/strong> which covers the performance of the business, market positioning, and achievements over the year.<\/p>\n<p>This annual report from Goldman Sachs contains <strong>a video message<\/strong> from the CEO, which you can use as an example.<\/p>\n<\/p><\/div>\n<div class=\"video-content\">\n<div class=\"iframe-container\">\n   <iframe src=\"https:\/\/www.youtube.com\/embed\/kCvHBzoj_YE?modestbranding=1&amp;showinfo=0\" frameborder=\"0\" allowfullscreen=\"true\"> <\/iframe>\n  <\/div>\n<\/p><\/div>\n<\/section>\n<section id=\"add-the-ceos-letter-to-the-report\">\n<h2>Add the CEO's letter to the report<\/h2>\n<div class=\"text-content\">\n<p>After the CEO has sent you their letter, you can include it in your report. The letter from the CEO is often <strong>used as the introductory material<\/strong> for the report.<\/p>\n<p><strong>Upload the letter below.<\/strong><\/p>\n<\/p><\/div>\n<div class=\"file-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> CEO letter <\/label> <\/p>\n<div class=\"file-container\">\n    <button type=\"button\" disabled class=\"btn btn-default\"> <i class=\"fa fa-upload btn-icon\"><\/i> File will be uploaded here <\/button>\n   <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/section>\n<section id=\"senior-management-profiles\">\n<h2>Senior management profiles:<\/h2>\n<\/section>\n<section id=\"contact-hr-for-a-list-of-directors-and-senior-management\">\n<h2>Contact HR for a list of directors and senior management<\/h2>\n<div class=\"text-content\">\n<p>Reach out to the HR department for a <strong>list of directors and senior management.<\/strong>&nbsp;<\/p>\n<p>These will be the <strong>individuals briefly profiled<\/strong> in the report.<\/p>\n<\/p><\/div>\n<div class=\"text-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> HR contact - First name <\/label><br \/>\n   <input type=\"text\" placeholder=\"Something will be typed here...\" disabled class=\"form-control\">\n  <\/div>\n<\/p><\/div>\n<div class=\"text-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> HR contact - Last name <\/label><br \/>\n   <input type=\"text\" placeholder=\"Something will be typed here...\" disabled class=\"form-control\">\n  <\/div>\n<\/p><\/div>\n<div class=\"text-content\">\n<p>You can<strong> use the email widget<\/strong> below to contact HR.<\/p>\n<\/p><\/div>\n<div class=\"text-content\">\n<p><strong>Use the sub checklist<\/strong> below to check you have received the right content from HR.<\/p>\n<\/p><\/div>\n<div class=\"multi-select-content form-field-content\">\n<ul class=\"items\">\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       1\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      List of names\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       2\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Photos\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       3\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Positions within the company\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       4\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Brief outline of their roles\n    <\/div>\n<\/li>\n<\/ul><\/div>\n<\/section>\n<section id=\"contact-each-for-a-brief-quote-about-annual-performance\">\n<h2>Contact each for a brief quote about annual performance<\/h2>\n<div class=\"text-content\">\n<p>To add a personal touch and a sense of <strong>broader company involvement<\/strong> in the report, contact each of those directors and managers for a<strong> short quote about the year<\/strong>.<\/p>\n<p>You can <strong>use the email widget<\/strong> to send your message.<\/p>\n<\/p><\/div>\n<\/section>\n<section id=\"plans-for-the-future\">\n<h2>Plans for the future:<\/h2>\n<\/section>\n<section id=\"enter-the-companys-strategic-plan\">\n<h2>Enter the company's strategic plan<\/h2>\n<div class=\"text-content\">\n<p>Add the company's strategic plan to the report.&nbsp;<\/p>\n<p>This should include discussion about the <strong>nature of the market<\/strong> and how the <strong>company intends to position itself<\/strong> within a changing marketplace.&nbsp;<\/p>\n<p>Use the <strong>upload widget<\/strong> below to add your strategic report.<\/p>\n<\/p><\/div>\n<div class=\"file-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Strategic plan <\/label> <\/p>\n<div class=\"file-container\">\n    <button type=\"button\" disabled class=\"btn btn-default\"> <i class=\"fa fa-upload btn-icon\"><\/i> File will be uploaded here <\/button>\n   <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"image-content\">\n<figure>\n   <a href=\"https:\/\/www.process.st\/templates\/wp-content\/uploads\/2024\/02\/oBdWN8W_7cBl2IcfhadH0w.jpg\" alt=\"Enter the company's strategic plan\" target=\"_blank\" rel=\"noopener\"> <img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/www.process.st\/templates\/wp-content\/uploads\/2024\/02\/oBdWN8W_7cBl2IcfhadH0w.jpg\"> <\/a><br \/>\n  <\/figure>\n<\/p><\/div>\n<\/section>\n<section id=\"add-info-on-new-product-and-services-for-coming-year\">\n<h2>Add info on new product and services for coming year<\/h2>\n<div class=\"text-content\">\n<p>Use this section to discuss <strong>the performance of existing products and services<\/strong>, taking a critical eye to their relative successes.&nbsp;<\/p>\n<p>Detail how the products and services you provide may <strong>change in the coming year.<\/strong><\/p>\n<p><strong>Upload your products and services overview below.<\/strong><\/p>\n<\/p><\/div>\n<div class=\"file-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Products and services overview <\/label> <\/p>\n<div class=\"file-container\">\n    <button type=\"button\" disabled class=\"btn btn-default\"> <i class=\"fa fa-upload btn-icon\"><\/i> File will be uploaded here <\/button>\n   <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/section>\n<section id=\"include-the-accompanying-adjusted-projections\">\n<h2>Include the accompanying adjusted projections<\/h2>\n<div class=\"text-content\">\n<p>Add your adjusted financial projections to the report.&nbsp;<\/p>\n<p>This will allow key stakeholders to understand the <strong>expected upcoming performance over the next year<\/strong>, with added information on expected performance over the following years -<strong> normally 5 years.<\/strong><\/p>\n<p><strong>Upload your projections below.<\/strong><\/p>\n<\/p><\/div>\n<div class=\"file-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Financial projections <\/label> <\/p>\n<div class=\"file-container\">\n    <button type=\"button\" disabled class=\"btn btn-default\"> <i class=\"fa fa-upload btn-icon\"><\/i> File will be uploaded here <\/button>\n   <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/section>\n<section id=\"submit-for-review\">\n<h2>Submit for review:<\/h2>\n<\/section>\n<section id=\"pass-to-a-colleague-for-review-and-editing-assistance\">\n<h2>Pass to a colleague for review and editing assistance<\/h2>\n<div class=\"text-content\">\n<p>Send your report to a colleague for them to review the report.&nbsp;<\/p>\n<p>This is an opportunity to work on the<strong> editing, layout, and design of the report.&nbsp;<\/strong><\/p>\n<p>If you have a <strong>design team<\/strong> in the company you can <strong>send it to them to create the final copy.<\/strong><\/p>\n<\/p><\/div>\n<\/section>\n<section id=\"prepare-report\">\n<h2>Prepare report<\/h2>\n<div class=\"text-content\">\n<p><strong>Include a link to the completed report<\/strong> using the form fields of this task.<\/p>\n<\/p><\/div>\n<div class=\"textarea-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Completed report <\/label><br \/>\n   <textarea placeholder=\"Something will be typed here...\" rows=\"3\" disabled class=\"form-control\"><\/textarea>\n  <\/div>\n<\/p><\/div>\n<div class=\"file-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Completed report (file) <\/label> <\/p>\n<div class=\"file-container\">\n    <button type=\"button\" disabled class=\"btn btn-default\"> <i class=\"fa fa-upload btn-icon\"><\/i> File will be uploaded here <\/button>\n   <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/section>\n<section id=\"obtain-signatures-from-the-ceo-and-cfo\">\n<h2>Obtain signatures from the CEO and CFO<\/h2>\n<div class=\"text-content\">\n<p>If all parties agree the report is finalized, it needs the <strong>signatures of both the CEO and the CFO.<\/strong><\/p>\n<p><strong>Use the meeting with the CEO to sign the report<\/strong> to finish the creation process.&nbsp;<\/p>\n<\/p><\/div>\n<\/section>\n<section id=\"schedule-review-meeting-with-ceo\">\n<h2>Schedule review meeting with CEO<\/h2>\n<div class=\"text-content\">\n<p>Send your report to the CEO for them<strong> to give the final review.&nbsp;<\/strong><\/p>\n<p><strong>Schedule a meeting with the CEO<\/strong> to discuss the report and work through any recommendations or feedback.&nbsp;<\/p>\n<p>Use the <strong>email widget<\/strong> to schedule the meeting.<\/p>\n<\/p><\/div>\n<\/section>\n<section id=\"assign-relevant-individual-to-approval-task\">\n<h2>Assign relevant individual to approval task<\/h2>\n<div class=\"text-content\">\n<p>Ensure all top level management and members of the board of directors have <strong>seen and approved<\/strong> the annual financial report.&nbsp;<\/p>\n<p>One approval is granted from all key parties, the report is<strong> finished and ready to be published.<\/strong><\/p>\n<p>You can take advantage of the&nbsp;<a href=\"https:\/\/www.process.st\/help\/role-assignments\/\" rel=\"nofollow noopener\" target=\"_blank\">role<\/a>&nbsp;or&nbsp;<a href=\"https:\/\/www.process.st\/help\/docs\/task-assignments\/\" rel=\"nofollow noopener\" target=\"_blank\">task assignment<\/a>&nbsp;feature by selecting the relevant individual to approve the task using the Members <a href=\"https:\/\/www.process.st\/help\/docs\/form-fields\" rel=\"nofollow noopener\" target=\"_blank\">form field<\/a> below.<\/p>\n<\/p><\/div>\n<\/section>\n<section id=\"approval-annual-financial-report\">\n<h2>Approval: Annual financial report<\/h2>\n<div class=\"approval-content\">\n<div class=\"header\">\n<div class=\"list-title\">\n    Will be submitted for approval:\n   <\/div>\n<\/p><\/div>\n<div class=\"approval-rule-subject-tasks-list\">\n<ul class=\"list\">\n<li>\n<div class=\"approval-rule-subject-tasks-list-item\">\n<div class=\"item\">\n<div class=\"container\">\n        <span class=\"title\">Prepare report<\/span> <\/p>\n<div class=\"body\">\n         Will be submitted\n        <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/li>\n<\/ul><\/div>\n<\/p><\/div>\n<\/section>\n<section id=\"submit-to-the-relevant-regulatory-body\">\n<h2>Submit to the relevant regulatory body<\/h2>\n<div class=\"text-content\">\n<p>If you are a large organization, you may need to <strong>submit your report to the relevant regulatory bodies.&nbsp;<\/strong><\/p>\n<p>If you are a <strong>publicly listed US corporation<\/strong> you will submit to <strong>the SEC, using their Form 10-K<\/strong> process.&nbsp;<\/p>\n<\/p><\/div>\n<\/section>\n<section id=\"sources\">\n<h2>Sources:<\/h2>\n<div class=\"text-content\">\n<ul>\n<li><a href=\"http:\/\/www.lse.ac.uk\/accounting\/pdf\/RimmelJonallandJohansson.pdf\" rel=\"nofollow noopener\" target=\"_blank\">LSE - The Process of Producing Annual Reports<\/a><\/li>\n<li><a href=\"https:\/\/www.bizmanualz.com\/business-procedures\/finance-procedures\/financial-reporting-procedure\" rel=\"nofollow noopener\" target=\"_blank\">BizManualz - Financial Reporting Procedure<\/a><\/li>\n<li><a href=\"http:\/\/www.myaccountingcourse.com\/accounting-cycle\/financial-statement-preparation\" rel=\"nofollow noopener\" target=\"_blank\">My Accounting Course - Financial Statement Preparation<\/a><\/li>\n<li><a href=\"http:\/\/www.gfoa.org\/improving-timeliness-financial-reports\" rel=\"nofollow noopener\" target=\"_blank\">GFOA - Improving the Timeliness of Financial Reports<\/a><\/li>\n<li><a href=\"http:\/\/www.wikihow.com\/Write-a-Financial-Report\" rel=\"nofollow noopener\" target=\"_blank\">WikiHow - How to Write a Financial Report<\/a><\/li>\n<li><a href=\"https:\/\/www.op.fi\/op\/op-financial-group\/op-financial-group\/corporate-governance\/financial-reporting-process?id=80144&amp;srcpl=8&amp;kielikoodi=en\" rel=\"nofollow noopener\" target=\"_blank\">OP Financial Group - Financial Reporting Process<\/a><\/li>\n<li><a href=\"https:\/\/www2.deloitte.com\/ng\/en\/pages\/audit\/articles\/financial-reporting\/financial-reporting-automation-1.html\" rel=\"nofollow noopener\" target=\"_blank\">Deloitte - Financial Reporting Automation<\/a><\/li>\n<li><a href=\"http:\/\/study.com\/academy\/lesson\/what-is-financial-reporting-purpose-statement-examples-analysis.html\" rel=\"nofollow noopener\" target=\"_blank\">Study.com - What Is Financial Reporting<\/a><\/li>\n<li><a href=\"http:\/\/www.goldmansachs.com\/investor-relations\/financials\/archived\/annual-reports\/2014-annual-report\/\" rel=\"nofollow noopener\" target=\"_blank\">Goldman Sachs - 2014 Annual Report<\/a><\/li>\n<li><a href=\"http:\/\/www.differencebetween.com\/difference-between-annual-report-and-vs-financial-statements\/\" rel=\"nofollow noopener\" target=\"_blank\">Difference Between - Difference Between Annual Report and Financial Statements<\/a><\/li>\n<li><a href=\"http:\/\/pakaccountants.com\/difference-between-financial-report-financial-statement\/\" rel=\"nofollow noopener\" target=\"_blank\">PAK Accountants - What is the difference between financial reports and financial statements?<\/a><\/li>\n<\/ul><\/div>\n<\/section>\n<section id=\"related-checklists\">\n<h2>Related checklists:<\/h2>\n<div class=\"text-content\">\n<ul>\n<li><a href=\"https:\/\/www.process.st\/templates\/accounting-onboarding-procedures\/\" rel=\"nofollow\">Accounting Onboarding Procedures<\/a><\/li>\n<li><a href=\"https:\/\/www.process.st\/templates\/creating-an-invoice\/\" rel=\"nofollow\">Creating an Invoice<\/a><\/li>\n<li><a href=\"https:\/\/www.process.st\/templates\/bank-reconciliation-template\/\" rel=\"nofollow\">Bank Reconciliation Template<\/a><\/li>\n<li><a href=\"https:\/\/www.process.st\/templates\/expense-management-process\/\" rel=\"nofollow\">Expense Management Process<\/a><\/li>\n<li><a href=\"https:\/\/www.process.st\/templates\/accounts-receivable-process\/\" rel=\"nofollow\">Accounts Receivable Process<\/a><\/li>\n<li><a href=\"https:\/\/www.process.st\/templates\/accounts-payable-process\/\" rel=\"nofollow\">Accounts Payable Process<\/a><\/li>\n<li><a href=\"https:\/\/www.process.st\/templates\/income-profit-and-loss-statement-process\/\" rel=\"nofollow\">Income (Profit and Loss) Statement Process<\/a><\/li>\n<li><a href=\"https:\/\/www.process.st\/templates\/cash-flow-report\" rel=\"nofollow\">Cash Flow Report<\/a><\/li>\n<li><a href=\"https:\/\/www.process.st\/templates\/balance-sheet-statement-preparation-checklist\" rel=\"nofollow\">Balance Sheet Statement Preparation Checklist<\/a><\/li>\n<li><a href=\"https:\/\/www.process.st\/templates\/business-tax-preparation-checklist\" rel=\"nofollow\">Business Tax Preparation Checklist<\/a><\/li>\n<\/ul><\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>Introduction: The annual financial report provides an overview of a company's entire operations over the course of a year.&nbsp; The report summarizes financial activity&nbsp;while also including a message from the CEO and projections for the future.&nbsp; The annual financial report allows all stakeholders to see what is happening within the company, and may also be [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":8947,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"ep_exclude_from_search":false,"cover_icon_emoji":"","cover_icon_url":"","tasks_count":"33","template_description":"Use this checklist to create a comprehensive overview of all financial, operational, and strategic activity of your business","template_id":"ryFEtC05sDHRy-Z17DdNtQ","task_0":"Introduction:","task_slug_0":"introduction","task_1":"Gather financial statements:","task_slug_1":"gather-financial-statements","task_2":"Contact accounting department for financial statements","task_slug_2":"contact-accounting-department-for-financial-statements","task_3":"Determine any additional sections of the report","task_slug_3":"determine-any-additional-sections-of-the-report","task_4":"Verify financial 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CEO:","task_slug_13":"letter-from-the-ceo","task_14":"Send your CEO the financial overview","task_slug_14":"send-your-ceo-the-financial-overview","task_15":"Add the CEO's letter to the report","task_slug_15":"add-the-ceos-letter-to-the-report","task_16":"Senior management profiles:","task_slug_16":"senior-management-profiles","task_17":"Contact HR for a list of directors and senior management","task_slug_17":"contact-hr-for-a-list-of-directors-and-senior-management","task_18":"Contact each for a brief quote about annual performance","task_slug_18":"contact-each-for-a-brief-quote-about-annual-performance","task_19":"Plans for the future:","task_slug_19":"plans-for-the-future","task_20":"Enter the company's strategic plan","task_slug_20":"enter-the-companys-strategic-plan","task_21":"Add info on new product and services for coming year","task_slug_21":"add-info-on-new-product-and-services-for-coming-year","task_22":"Include the accompanying adjusted projections","task_slug_22":"include-the-accompanying-adjusted-projections","task_23":"Submit for review:","task_slug_23":"submit-for-review","task_24":"Pass to a colleague for review and editing assistance","task_slug_24":"pass-to-a-colleague-for-review-and-editing-assistance","task_25":"Prepare report","task_slug_25":"prepare-report","task_26":"Obtain signatures from the CEO and CFO","task_slug_26":"obtain-signatures-from-the-ceo-and-cfo","task_27":"Schedule review meeting with CEO","task_slug_27":"schedule-review-meeting-with-ceo","task_28":"Assign relevant individual to approval task","task_slug_28":"assign-relevant-individual-to-approval-task","task_29":"Approval: Annual financial report","task_slug_29":"approval-annual-financial-report","task_30":"Submit to the relevant regulatory body","task_slug_30":"submit-to-the-relevant-regulatory-body","task_31":"Sources:","task_slug_31":"sources","task_32":"Related 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