You’d normally prepare one Annual Report per year. As the process takes something from one week until a month, depending on your time available for the preparation, there’s at least like 11 months when you don’t even think about the report. You don’t think and you forget. 

Now when the time comes and you have to start preparing a new one for your reporting year your first question is probably along the lines of “where do I start?” and then you wonder if you haven’t forgotten anything. Most probably you also want to check your last year’s report to ensure you didn’t miss anything back then.

Obviously if it’s your very first Annual Report, the use of an example makes even more sense. How else would you know how the report should look like, what information goes where etc.? An example Annual Report is purely for this purpose – it shows how one should look like, it even includes sample texts etc. for a company that doesn’t exist in reality, but for which we’ve prepared financial statements with all the relevant notes and components. It gives you an idea of how accounting policies should be described, what to include as extra information within notes etc.

Using an example Annual Report is something that should be a normal part of preparing an Annual Report and is in fact something that even the more experienced accountants do when preparing their set of financial statements.

If you want to learn more about Annual Report, please check out our Office ToDo UNI.