Preparinganeffectiveannualreport-effectively.ppt

Preparing an effective annual report - effectively Marjorie Anderson FPRIA Dr Ron J Knight FPRIA Principals Anderson Knight Pty Ltd Suite 1, Level 1, 44 Bridge Street, Sydney An annual report . . . Records the status of an organisation at a point in time – the end of the financial year Financial status – assets and liabilities Performance status Achievements – with respect to objectives Financial performance for the year Sources and use of funds Profit or loss Why prepare an annual report? Must do! – It’s a statutory requirement. To be accountable to stakeholders for funds collected, funds used - and funds retained To describe past activities of the organisation and its current situation To identify future prospects, describe future plans and set performance objectives for the next year. When to prepare an annual report? Generally prescribed by statutory regulations An annual report must be prepared and distributed to ‘shareholders’ or ‘members’ prior to an annual general meeting - within a prescribed period after the financial year ends. Meeting the prescribed report distribution deadline adds pressure to the process! Changes in Annual Reporting Traditionally – reports were printed and mailed Increasingly – reports are being distributed electronically by CD, DVD and Internet (website) Listed companies can now provide electronic reports electronically via the Internet as a default – hard copies are provided by request only. (Simpler Regulatory System Bill 2007) Electronic reporting by other organisations is increasing – subject to regulatory requirements – but hard copy reports are still necessary. Print vs Electronic Reports The two mediums are very different Simply making a pdf version of a report and posting it on a website ignores all the navigation and easy access benefits of the electronic technology On-line reports need to be designed to be easy to read on screen – i.e. small amounts of succinct copy with images and white space in screen-size s