October 19, 2020

SB-Accounting

Accounting + Finance Blog

Business term: Chairman’s report in the annual report

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Chairman’s report is one of the components of an annual report. However, in recent times, this report is no longer in vogue. In Nigeria, for example, most annual reports do not contain a report from the chairman. But you will find a director’s report. If this is the case, it is not necessary to discuss these in detail.

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Generally, though, a chairman report contains a summary of the present business, the future business, and projection of what the company’s chairman believes may occur in an entity.

For example, recently, the chairman of Dangote Group, declared that sales may dip to 30 billion in two years. This is a prediction of what the future will be for the Group.

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The chairman report also shows the SWOT analysis of the company. And may briefly point out certain corporate philanthropic acts of the firm. Note, however, that the chairman’s report is not in most existing annual reports.

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Next, Directors’ report will be discussed.

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