W6omm622res2 | Management homework help

Please read each passage below, I need a few sentences in response to each part. Please use at least one source. Please cite the reference(s) properly. Part 1 and 2 PLACE THE REFERENCES UNDERNEATH EACH PASSAGE can be on the same page, however, please keep them separate by labeling them Part 1 and Part 2. No Title Page Needed DUE TODAY 3/14/22 by 6PM CST

PART 1 

The annual report is basically a summary of everything the company has accomplished in the previous year, as well as a look into the future including anticipated challenges and associated strategies (Epstein, 2014). The report consists of several key management and financial statements, each being critical to the overall picture of the health of the organization. An opening letter from the CEO outlines the “view from the top”, or the overall grand strategy. You could liken this letter to a brief “state of the company” address. Financial information includes Balance sheets, income statements, and cash flow statements. These are critical documents that reflect the financial health of the organization from several angles. Investors and other stakeholders will lean heavily on these documents to diagnose the operations and profitability of a company, so accuracy is key with these financial documents. While it is not required, an annual report will typically include an auditor’s report that outlines an external review of the organization by a competent public accountant. Required information includes results from continuing operations, market segment information, new product plans, subsidiary activities, and research and development plans (Epstein,2014). Each of these items paints a clear picture of how the company is operating and how it is planning on investing resources into the future. Another recommended section is management’s discussion and analysis. This information is important because it details leadership’s interpretation of the company’s profitability and strategic outlook. All of these sections are important to include in the annual report because it is our responsibility to present the organization in an honest, concise, and favorable manner. The annual report is the roadmap to the organization, so it is critical to make it as comprehensive and user-friendly as possible. 

References:

Epstein, L. (2014). Financial Decision Making: An Introduction to Financial Reports. Zovio. Retrieved from: https://content.uagc.edu/

PART 2

An annual report is a document that contains comprehensive financial information about public companies highlighting their financial performance and activities over the prior fiscal year (Layton, 2021). It is important for leaders across the organization to understand what is included in this report and how it impacts the reputation of the company. Everyone plays a key role and should take responsibility for results.

Let me start by saying thank you for your continued support. We value you as a part of our team. Despite the ongoing changes and challenges in the market we are committed to providing exceptional service. We are working hard every day to sustain our position as leaders in the industry. Through innovation, technology, and continuous learning we have been able to reduce expenses by 15% over the last year and increase revenue by 10% across the board. Inflation has made it difficult to do business the way we have done it before because of increasing costs. Eliminating waste and capitalizing on efficiencies has allowed us to remain profitable. As we continue to fine tune operational processes, we project consistent growth and expansion around the globe over the next five years. Our engagement and support to communities where we live, work, and play has not wavered. Giving back through volunteering, financial donations, and investing in people has allowed us to stay connected to those who we serve. Again, thank you for investing in us and joining us on this journey to make the world a better place.

Thanking the shareholders for choosing your organization is a great way to show appreciation. With so many options elsewhere, they are investing in you so that should never be taken for granted. Sharing your level of commitment to provide a great service can be reassuring to shareholders that your organization will work hard for them. Thinking outside the box, leveraging technology, and being a student of the industry shows shareholders you are staying current on trends and are experts in the field. Sharing measurable results are always good to note. Highlighting any challenges are good to mention as well because no company is perfect. They all encounter roadblocks. That level of transparency can build trust. You also want to celebrate any wins. Highlighting your engagement in the community is great to share as well. Being invested where you work, live, and play only further demonstrates your commitment to excellence.    

Reference

Layton, J., 2021, What is an Annual Report? | legalzoom.com