Annual financial report:
• Comes out when the year is finished
• It is a photograph of a company at a particular time
• Quarter or 6 month report to bring the information up-to-date
• For listed companies
o Transparency to the public (responsibility)
o Information about the company (products, where it operates, subsidiaries, consolidated accounts = al subsidiaries together)
? Advantages of a consolidated account: if you’re not very strong in your home country you can cover it with the other subsidiaries because at the end it is just one number
Who reads it?
Investment strategist, stockholders, any stakeholders, competitors, financial communities, bankers, tax authorities. ( anybody can get hold of an annual report, it is always obligated for listed companies.
Financial report for private companies:
• Balance sheet
• Cash flow
• Profit and cost account
? It is more difficult to see into a financial report of private companies because they are not obligated to publish it.
|Code Lippens = corporate governance rules for listed companies (BEL-20) |
|Code Buy ...