Can an annual report have more than one purpose?

Part of the SEC's mission is to safeguard investors. As they put it. "Companies offering securities for sale to the public must tell the truth about their business, the securities they are selling, and the investment risks.” To ensure that happens, the SEC requires all U.S. publicly traded companies to file an (Form 10K) every year. and upload it to EDGAR.

Form 10K provides a detailed overview of the company's financial condition, including audited financial statements, management's analysis, and information about the company's operations and risks.

So, to the SEC, an annual report's purpose is to be a transparent, truthful, and comprehensive report of a company's financial performance and business risks.

While that's an important purpose, it's not the only one.

During the last half of the 20th century, the modern annual report evolved beyond its financial reporting roots to become an important strategic communications platform for corporations. Today, annual reports can:

• Help shift or direct the reader's focus,

• Launch new products, services, or initiatives,

• Introduce a new positioning,

• Clarify stakeholder misconceptions,

• Address internal issues,

• Celebrate a significant year,

• And most importantly, explain how you intend to grow and thrive in a crowded marketplace
  and competitive world.

If you want your next annual report to do more than report, I'll be happy  to write it.