Define: Annual

Annual
Annual
What is the dictionary definition of Annual?
Dictionary Definition of Annual

Annual (adjective):

1. Occurring or happening once every year.
Example: The company holds its annual meeting in January.

2. Relating to a period of one year.
Example: The annual report summarizes the financial performance of the organisation over the past year.

3. Lasting for a year or throughout the year.
Example: The annual membership fee allows access to the club’s facilities for the entire year.

4. Calculated or determined on a yearly basis.
Example: The annual salary of the employee is $50,000.

5. Pertaining to plants that complete their life cycle within one year.
Example: Marigolds are annual flowers that need to be replanted each spring.

Full Definition Of Annual

Annual refers to something that occurs once a year or is related to a year-long period. In a legal context, it can refer to various matters such as annual reports, annual meetings, or annual contracts.

Annual reports are documents that companies are required to prepare and submit to shareholders, regulators, or other stakeholders on an annual basis. These reports provide a comprehensive overview of the company’s financial performance, operations, and other relevant information. They are an important tool for transparency and accountability.

Annual meetings, also known as annual general meetings (AGMs), are gatherings of shareholders or members of an organisation that take place once a year. These meetings serve as a platform for shareholders to receive updates on the company’s performance, elect directors, approve financial statements, and discuss other important matters.

Annual contracts are agreements that are valid for a period of one year. They outline the terms and conditions of a business relationship or transaction that will be in effect for the entire year. These contracts may cover various areas such as employment, services, or supply of goods.

In summary, the term “annual” in a legal context refers to events, reports, or contracts that occur or are valid for a period of one year. These annual obligations and documents play a crucial role in ensuring transparency, accountability, and the smooth functioning of organisations.

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Disclaimer

This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.

This glossary post was last updated: 29th March 2024.

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