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  3. Annual accounts

Annual accounts

noun

The summary of an organisation's financial transactions during the year covered by their accounts, and a 'snapshot' of the assets and liabilities at the end of the year.

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For example

The finance director was in charge of preparing the annual accounts.

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For Commercial law
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Other useful terms:

Statutory accounts

Company accounts which have been filed with the Registrar of Companies. The accounts have to disclose (show) the information required by the Companies Acts.

Statutory accounts

Company accounts which have been filed with the Registrar of Companies. The accounts have to disclose (show) the information required by the Companies Acts.

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