the annual report is considered by some to be the single most important printed document
that companies produce. in recent years, annual reports have become large documents
they now include such sections as letters to the stockholders, description of the bussiness, operating highlights, financial review, management discussion and analysis,
segment reporting, and inflation data as well as the basic financial statement. the expansion has been due in part to a general increase in the degree of sophistication and
complexity in accounting standards and disclosure requirements for financial reporting.