How to Prepare Annual Report

When I was a Corporate Planner, I was responsible to publish Annual Report for the company. About a few years I was involved in this project. I would like to share experience with you on how I organize my team to produce an annual report.

1. Develop Your Team

As a leader to this project you will become a chairman with help of the secretariat. The secretariat is a group of your staff that will help you to manage this project. The first thing you have to do is prepare a plan or road map to publish the report. A road map will guide you on the following subjects: (a) contents of the report
(b) related departments and representatives
(c) task flows
(d) date line to accomplish each tasks

I will get Management approval the road map. An endorsement from Management will ensure the project will be completed in time.

2. Kick-off Meeting

After you prepare the plan, I will call a meeting by inviting all the persons who represent his to department to attend a kick-off meeting. During the meeting you will table the plan when the jobs of preparing annual will be started and when it should be completed. Next, you will explain what roles for each person will do. For example, financial statement will be prepared by Finance Department and when the document should be sent to the secretariat. The same goes to perapring of the Chairman Statement, corporate information, board committee,  activities reports, financial performance, calendar of events, statement of internal control, risk management and compliance.

You should give a date line when all the department send their reports to the secretariat. Let say you give them two weeks to submit the report to the secretariat.

3. Edit First Draft Report

After you receive reports from all the departments, you should check, edit and compile them and become the first draft of annual report. The first draft should be sent to all departments for them to check. The representatives are expected to discuss the contents with his head and get any feedback from him. You as a chairman will them that you will be calling a second meeting to finalise the draft report.

4. Second Meeting for the Team

Next, you will be calling a second meeting. All the representatives will come and give their comments to the first draft. During the meeting, information are added, deleted or modified. If everything is okay, you be should be able to prepare the final draft.

5. Table Final Draft to Management

A copy of the final draft will be sent to the CEO and all the management. You will a fix a date for meeting to table the report and get Management to approve it. During the meeting, the secretariat will take any comments from the management. When management approves the report, it becomes the final report.

6. Get Approval From Audit Committee and Board

The next step is to table the final annual report to the Audit Committee and the Board of Director. Nevertheless, it depend on the company’s policy whether whether you should table it to both committees.

7. Designing and Printing of Annual report

When both committees approve the annual report, it is the duty of Corporate Communication Department to design a concept of the new annual report . The report will be be sent for printing and then distribute to the shareholders and other parties.

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3 Responses to “How to Prepare Annual Report”

  1. Ken Kaufman Says:

    Very nice article. You covered all of the main points.

    Perhaps the most difficult part of the process is getting the Board to approve it. They typically have many other items on their plate, and I imagine they are not responsive. When they are responsive, I would imagine their feedback can be challenging to incorpate .

  2. Malaysian Economy Update Says:

    Yes, I do agree with your comments. Since we have dateline to submit report to the authority or stakeholders, Board normally will approve the report with comments that to be taken into cosideration when we finalise the report

  3. M. S. S. Shankar Says:

    This is a very good information for a newcomer, who will come to know what to do and how to do.

    What I personally feel is if there is a sample of Report and Balance Sheet, it would be of great help. One can get an idea of more detailed understanding. As a company’s manager, not having accounting knowledge, depending more on the auditors.

    Thank you once again


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