Annual reports are official documents that larger businesses are required by law to compile once per year and which contain financial data and other important details describing the state of the company in question. Their content is defined by the applicable legislation.

Annual reports serve as basic presentation and promotional documents, and the information published within them usually needs to be verified by auditors.


Who is obliged to publish annual reports?

Annual reports need to be produced by joint-stock companies specified in Section 39 of the Commercial Code, and by enterprises (i) whose balance sheet amounted to more than CZK 40 million in the previous year, (ii) which posted a net revenue of over CZK 80 million and (iii) had more than 50 employees on average. In addition, the obligation to issue annual reports also applies to foundations and endowment funds, subject to the provisions of Sections 24 and 25 of Act 277/1997 Coll., on Foundations and Endowment Funds.

 

annual-report

What do annual reports contain?

Annual reports present the characteristics of the company, a summary of financial indicators, the most important events of the past year, forewords by the President of the Board or CEO, a description of the company’s organizational structure, a report by the board of directors, company management, and supervisory board, comments on the financial situation, including profit and loss, an attachment to the annual report providing a description of the main accounting principles, and – if applicable – the so-called Reports on Relations Between Affiliated Entities, which need to be issued by members of groups and holdings in accordance with the applicable legislation. The financial section of annual reports contains the auditor’s report, a balance sheet, a profit and loss statement, a cash flow statement, and a supplement to the financial statements.

 

Who is the audience for whom annual reports are issued?

Annual reports serve as the source of information for the owners and business partners of companies, their investors, banks, and employees. They also serve as a source of information for the public and the media.

At České překlady, we pay special attention to the translations of annual reports and other related documents. The texts of annual reports are standardized to a considerable extent and, thanks to our consistent use of CAT tools and translation technologies, as well as accounting and economic glossaries, and by providing discounts on repeated texts, we guarantee a consistent and high-quality translation of this specific type of text into English, German, Russian, French, Italian, Polish, Spanish, and many other languages, all at reasonable prices.

 

Please do not hesitate to contact our project managers for more details.

 

Author: Václav Baláček

 



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