Provide a Description of the Contents of Each of the Following

question 146

Essay

Provide a description of the contents of each of the following components of the annual report.
$$\begin{array} { | l | l | } \hline \text { Annual Report Component } & \text { Description of the contents } \\\hline \text { MD\&A } & \\\hline \text { Notes to financial statements } & \\\hline\end{array}$$

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Definitions:

Manual Accounting System

An accounting system in which records are maintained by hand without the use of computer systems.

Chart of Accounts

A systematic listing of all accounts used in the general ledger of an organization, categorized by assets, liabilities, equity, revenue, and expenses.

Two-column Journal

A type of accounting journal that consists of two columns, typically one for debits and one for credits.

General Ledger

A comprehensive record of a company's financial transactions over the life of the organization.