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Investopedia explains 'Annual Report'
1. It was not until legislation was enacted after the stock market crash in 1929 that the annual report became a regular component of corporate financial reporting. Typically, an annual report will contain the following sections:
-Financial Highlights
-Letter to the Shareholders
-Narrative Text, Graphics and Photos
-Management's Discussion and Analysis
-Financial Statements
-Notes to Financial Statements
-Auditor's Report
-Summary Financial Data
-Corporate Information
2. A mutual fund annual report, along with a fund's prospectus and statement of additional information, is a source of multi-year fund data and performance, which is made available to fund shareholders as well as to prospective fund investors. Unfortunately, most of the information is quantitative rather than qualitative, which addresses the mandatory accounting disclosures required of mutual funds.
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