1. A regular publication that public corporations must give to its shareholders to relay their financial conditions and operations. The front part of the report usually possess an impressive combination of photos, graphics together with a narrative, all of which documenting the activities of the company over the past year. The back part of the report has the detailed operational and financial information.
  2. In case of mutual funds, the annual report is document which is made as a requirement and made available to its fund shareholders on a per fiscal year basis. It reveals some aspects of a fund's financial condition and operation. Contrary to the annual reports, the mutual fund annual reports best description is "plain vanilla" derived from its representation.