Definition: is a crucial part of a large company’s yearly report that contains the following information: a) the names of all individuals that held office as directors during the reported period, b) a statement of the company’s financial activities and its business forecast, c) the principal operations of the company and any of its subsidiaries, d) the advised dividend for the reported period, e) a list of any events planned for the future that can affect the company’s finances and that aren’t listed in the balance sheet, and f) summary of any notable changes in the overall value of the company’s fixed assets. Such reports are filed in the UK, and a vast number of Commonwealth countries, and are known as Form 10-k in the United States.
In a Sentence:
According to the directors’ report, BLT Flavor has suffered a tremendous loss in the worth of their fixed assets during the last year.
The directors’ report is obviously incorrect, as Samuel Weathers isn’t listed as a director, even though he held his post for more than five months before being fired for financial manipulations.
Even though we won’t open a new factory until April next year, we have to include this fact in the directors’ report, as it will seriously affect the financial well-being of our enterprise.
Synonyms and related words: statutory accounts, auditor’s report, financial statement, balance sheet