Definition: is a portion of the company’s complete yearly report package that contains a vast variety of information including: a) the list of directors residing in office during the last year, b) a summary of the company’s business activities and its potential prospects, c) the principal activities of the company, and d) noticeable changes in the worth of fixed assets, as it serves to express the directors’ assessment on the state of the firm. In the United States, such a report is required to be objectively audited to be considered authentic.
In a Sentence:
The directors’ report presented at the meeting raised significant concerns regarding the future of the firm, as the value of fixed assets owned by the company has dropped dramatically.
After the company auditors completed our year-end audit, we were ready to present the directors’ report to the board.
Synonyms and related words: board of directors, social accounting, income statement, balance sheet