Filings & regulation
Annual report
Also called 10-K or Form 20-F
A company’s comprehensive yearly filing, including audited accounts and a discussion of risks.
How it works
The annual report is the single most information-dense document a public company produces. It contains the audited statements, the notes, management’s discussion, and a detailed risk section.
The notes are where the substance sits: accounting policies, segment breakdowns, contingent liabilities and related-party transactions.
Where it misleads people
The risk factors section is largely boilerplate written by lawyers. What matters is what changed from last year’s version, which is a much shorter and more revealing list.
Related terms
- Quarterly reportA shorter, usually unaudited financial update covering three months.
- Audit opinionThe auditor’s formal statement on whether the accounts fairly present the company’s position.
- Regulatory filingA document a company or investor is legally required to submit and make public.
- Financial statementsThe audited accounts a company must publish: balance sheet, income statement and cash flow statement.
Mentioned in
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All 12 Filings & regulation terms · The full glossary, 433 terms
Educational reference only. Nothing here is investment advice or a recommendation to buy or sell anything, and tax treatment depends on your own circumstances and the country you are in.