The annual report is a yearly publication that public corporations must provide to shareholders to describe the company’s operations and financial condition.The SEC requires public corporations to file annual reports, which reveal if a company’s sales and earnings are higher or lower than expectations. Is the company’s debt growing or shrinking? How does management plan to sustain success, or recover from a bad year? Annual reports provide in-depth information that potential investors want to know. Annual reports should be easy to find on a company’s website or through an Internet search. The reports usually start with colorful graphics and photos that accompany a narrative explaining the company’s activities. The back of the report features detailed financial and operational data. Mutual funds are also required to issue an annual report to shareholders each fiscal year. While the reports disclose certain aspects of the fund’s operations and condition, the report’s presentation is plain vanilla compared to a corporate annual report.