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Annual Report

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annual report & stockholders meeting – PowerPoint PPT presentation

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Title: Annual Report


1
Annual Report Stockholders Meeting

2
Anatomy of an annual report
  • While most annual reports contain optional
    elements, all reports contain information the SEC
    requires.
  • SEC-required elements include
  • Auditor's report
  • Management discussion
  • Financial statements and notes
  • Selected financial data
  • Optional elements include
  • Financial highlights
  • Letter to stockholders
  • Corporate message
  • Report of management
  • Board of directors and management
  • Stockholder information

3
Mandatory elements
  • Auditors' report. This summary of the findings of
    an independent firm of certified public
    accountants shows whether the financial
    statements are complete, reasonable, and prepared
    consistent with generally accepted accounting
    principles (GAAP) at a set time.
  • Management discussion. This series of short,
    detailed reports discusses and analyzes the
    company's performance. It covers results of
    operations, and the adequacy of liquid and
    capital resources to fund operations.
  • Financial statements and notes. These statements
    provide the raw numbers for the company's
    financial performance and recent financial
    history. The SEC requires three statements
    statement of earnings, statement of financial
    position, and statement of cash flows all
    covered in this guide (the statement of
    stockholders' equity is not addressed here).
    These statements include a comprehensive set of
    related notes that provide explanations,
    additional detail, and supplementary financial
    information.

4
Mandatory elements
  • Selected financial data. This information
    summarizes a company's financial condition and
    performance over five years or longer. Data for
    making comparisons over time may include
  • revenue (sales)
  • gross profit
  • net earnings (net income)
  • earnings per share
  • dividends per share
  • financial ratios such as return on equity
  • number of shares outstanding
  • market price per share.

5
Optional elements
  • Financial highlights. Probably the most
    often-read section of any annual report, these
    highlights give a quick summary of a company's
    performance. The numbers appear in a short table,
    usually accompanied by supporting graphs.
  • Letter to stockholders. This letter may be from
    the chairperson of the board of directors, the
    chief executive officer, or both. It can provide
    an analysis and a play-by-play review of the
    year's events, including any problems, issues,
    and successes the company had. It usually
    reflects the business philosophy and management
    style of the company's executives, and often it
    lays out the company's direction for the next
    year.
  • Corporate message. Some analysts, business
    executives, and stockholders consider this
    message an advertisement for the company others
    find it useful. However, it almost always
    reflects how a company sees itself, or how it
    would like others to see it. Here, the company
    can explain itself to stockholders, using
    photographs, illustrations, and text. This
    message may cover the company's lines of
    business, markets, mission, management
    philosophy, corporate culture, and strategic
    direction.

6
Optional elements
  • Report of management. This letter, usually from
    the board chairperson and the chief financial
    officer, takes responsibility for the validity of
    the financial information in the annual report,
    and states that the report complies with SEC and
    other legal requirements. The discussion attests
    to the presence of internal accounting control
    systems that cover effectiveness of operations,
    reliability of financial reporting, and
    compliance with federal laws.
  • Board of directors and management. This list
    gives the names and position titles of the
    company's board of directors and top management
    team. Sometimes companies include photographs.
  • Stockholder information. This information covers
    the basics, the company's corporate office
    headquarters, the exchanges on which the company
    trades its stock, the location and time of the
    next annual stockholder's meeting, and other
    general stockholder service information.
    Stockholder information is usually in the back of
    the annual report.

7
Foundations Annual Report
  • Your Annual Report must include, at a minimum
  • Cover Page
  • Table of Contents
  • Letter to stockholders (Write this section
    last.)
  • Corporate Message.
  • It almost always reflects how a company sees
    itself, or how it would like others to see it.
    Here, the company can explain itself to
    stockholders, using photographs, illustrations
    and text.
  • Your company's Vision and Mission statements
  • Business Philosophy
  • Describe your industry and markets.
  • Companys strategic direction
  • What factors made the company succeed?

8
Foundations Annual Report
  • Financial Highlights. These highlights give a
    quick summary of a companys performance. The
    numbers appear in a short table, usually
    accompanied by supporting graphs.
  • Data for making comparisons may include revenue
    (sales), gross profit, net earnings (net income),
    earnings per share, dividends per share, and
    market price per share.

9
2008 Financial Highlights
A commitment to sustainable and dependable
GROWTH (dollars in millions, except per share
data)
  2008 Change 2007 Change 2006 Change
Net sales 12,822 9 11,776 8 10,907 7
Gross profit as a of net sales 41.9 (2.1 pts) 44.0 (0.2 pts) 44.2 (0.7 pts)
Operating profit 1,953 5 1,868 6 1,766 1
Net earnings 1,148 4 1,103 10 1,004 2
Net earnings per share            
Basic 3.01 8 2.79 10 2.53 6
Diluted 2.99 8 2.76 10 2.51 6(b)
Cash flow (net cash provided by  operating activities, reduced by capital expenditure)(a) 806 (22) 1,031 8 957 24
Dividends per share   1.30 8    1.20 5   1.14 8
Example from Kellogg Company 2008 Annual Report
10
Foundations Annual Report
  • Management discussion.
  • A series of short, detailed reports that
    discusses and analyzes the companys performance.
  • It covers results of RD, Production, Marketing,
    and the adequacy of capital resources (Finance)
    to fund operations. Include in these reports your
    analysis and comparison to your selected
    competitors.
  • Financial Statement and notes use your Final
    Year Foundations Annual Reports
  • The SEC requires three statements statement of
    earnings, statement of financial position, and
    statement of cash flows

11
Foundations Annual Report
  • Selected Financial Data. This information
    summarizes a company financial condition and
    performance over five years or longer
  • Data for making comparisons may include revenue
    (sales), gross profit, net earnings (net income),
    earnings per share, dividends per share, market
    price per share and key ratios.
  • What were your companys key financial
    objectives / ratios
  • How well did you perform against these objectives
  • What actions did you take to maximize your
    objectives attainment

12
2008 Selected Financial Data
Example from Kellogg Company 2008 Annual Report
13
Foundations Annual Report
  • Discuss what your Executive team has done to
    position your company for the future
  • Required attachments (These pages are not
    included in the 8 12 page guideline)
  • Brief Bio for each member of the executive team
    stating their primary responsibilities
  • Charts, graphs, etc. to support your written
    report (do not include the last FastTrack Report)

14
Annual Stockholders Meeting
15
Stockholders meeting
  • What are you trying to accomplish?
  • Truthfully sell to the Board your management
    teams effectiveness.
  • Obtain a vote of confidence as a management
    team and to continue your contracts.
  • The Board has asked you to come before them to
    discuss four things
  • Your management teams overall performance over
    the past eight years
  • Andrews financial performance in your final year
  • Andrews performance compared against two of your
    key competitors (select two of your major rivals
    - Baldwin, Chester, Digby, Erie, or Ferris and
    prepare a competitor analysis).
  • What specific steps your management team has
    taken to position Andrews for future success

16
Points to Think About
  • Who is the Audience?
  • Board of Directors
  • the group of people responsible for supervising
    the affairs of a corporation
  • the board of directors generally sets broad
    corporate policy rather than participating in
    day-to-day managerial decisions
  • members are elected by the firm's stockholders
    and may or may not be stockholders themselves.

Microsoft
Campbell
Gap
Nike
17
Presentation
  • Introduction
  • Team Introduction name and functional
    responsibility
  • Content
  • Ensure Clarity of Information
  • Conclusion (The Last Chance with Customer Be
    Enthusiastic)
  • Shouldnt end abruptly I guess thats it!
  • Summary of what the Team Presented (This takes
    Time and Enthusiasm)
  • Must ask for Vote of Confidence
  • Q A
  • Interaction
  • Speaker to Screen Synchronization Practice
  • Transitions
  • Introduction of next speaker
  • Formal and consistent

18
Presentation
  • Time 20 minutes (minimum 17 minutes maximum 22
    minutes)
  • Business Professional
  • Time must be Proportional between Teammates
  • Speak Loudly and Slowly gt Distinctly
  • Dont MEMORIZE!
  • Smile show you are comfortable with the subject
    matter
  • Be Enthusiastic !!
  • No Distractions
  • Swaying
  • Clapping Hands
  • Mumbling
  • No Starting Over

19
Presentation
  • Minimize Verbal Fillers
  • UM, AH, You Know, Like
  • No Hands in Pockets
  • No Notes or Scripts
  • Maintain Eye Contact with Audience Not the Wall
    or Into Space
  • Dont Read Screen
  • Audience can do this faster Explain the purpose
    of the slide
  • No Standing Behind the Podium
  • One Person at Computer if necessary
  • Speaker out front
  • Dont cross in front of screen in formal
    presentation
  • Non-speakers pay attention
  • Act Interested, support your team !
  • Dont Act Bored
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