Börsenlexikon: Annual accounts

The annual financial statement is the arithmetical conclusion of a commercial business year. It establishes the financial position and performance of a company and includes the closing of the accounts, the compilation of accounting documents and their audit, confirmation and publication. In the case of companies subject to compulsory accounting, the main components of the annual financial statements are the balance sheet and the profit and loss account, supplemented where necessary by the notes and the management report.