The Modern Annual Report to Shareholders does not look like a dreary financial report. Instead, it looks more like a glossy marketing brochure. In fact, annual reports do have a marketing purpose.

Insider Guide to Reading Annual Report

Yes, the mandatory financials, notes, and auditor's opinion are all there. These are usually in black and white and small print.  But the "financials " have to sandwich in between many glossy pages with striking images, creative typography, colorful graphs, and artful prose from the Board, CEO and other officers

In response to the non-mandatory gloss, report readers naturally ask: "What are they trying to tell me?" Or, more to the point, "What are they trying to sell me?" And, "Do I buy it?" Read more of this post