What Is an Annual Report?
An annual report is a comprehensive business document that performs an evaluation of the company's, church's, school's, or other establishment's productivity status throughout the preceding year. This type of document is intended to share a summary of the information with interested shareholders or people about the establishment's performance.
However, this type of document does not limit itself to establishments but can be used by other means like nonprofit charity projects, modern safety services, etc. This business document is especially relevant to fresh small businesses who aren't adept at making this report and help them assess their company's overall status.
1. Accomplishments Over Activities
People who read the reports expect to see accomplishments rather than the activities conducted throughout the year in your report analysis. Accomplishments and awards help boost the company's status and credibility as a competitive and quality-service business. Accomplishments will also help your reader get your intended goal and mission. What made you conduct these activities in the first place? Why did you spend a lot of time and effort in conducting these activities? Connect your accomplishments with your mission statement and don't assume your reader will instantly get the relevance of a certain activity to your mission. Accomplishments help bridge your activity to your mission statement. You can still add the conducted activities but focus more on the accomplishments.
2. Conduct a Research
To fully understand and gain more insight into the given topic, you must do in-depth research and thorough investigation to gather detailed information and data for your status report. You may also access findings from previous reports and analysis to compare and contrast to your current gathered data so your report will be more comprehensive. Research is vital for a company's improvement, even professionals conduct research to provide dependable and non-biased information. For example, a wrong input on the company's annual tax will surely create more problems and might harm the productivity of the employees.
3. Include Photos and Graphs
An outline format presentation of your report requires visual aid in relaying the gathered data and information. Imagery is a powerful and useful tool. There is no reason why your annual report must be relatively dry and only filled with letters and numbers. HR, or human resources, use images and graphs to present certain scenarios further when words seem to fail. Images and artworks help promote a personal connection between the company and the client. However, if used incorrectly, your images and graphs may only help in destroying the overall design of your annual report. You must be careful when handling images and graphs.
4. Organize, Review, Revise
When you have gathered your necessary data and information for your report outline, the next thing you can do is organize your findings and ideas. You must create a structure or a skeleton for your data. By doing this, you will know where to place the data and know what data to jot down. There might some information that you have gathered that is not relevant at all. When done constructing your annual report flow, you need to review it and revise only when it is necessary. Do this not just once because you might have missed some errors in the first review. Even simpler documents like brochures and calendars need to be reviewed and revised to achieve maximum accuracy and efficiency.