Depending on the size and nature of your business or organization, an annual report can mean different things. Essentially it's a yearly report card; often it will contain an income statement, and a general report of the company’s overall operations.
The latest trends, however, show that annual reports are also used by businesses and organizations as a marketing tool. In addition to the business financials, you may find individual reports or letters from the CEO, or other executives reflecting the company’s history and new directions, initiatives, and ventures.
Annual reports are essential to business retention. Your businesses annual report should say we are an industry leader.