The success of any firm, organization or institute can only be analysed when the detailed report of the company highlights its growth rate higher than the previous year. The graph accelerates when the focus is given on all the dimensions of the company’s growth. It is not only about financial growth but also related to holistic growth of the company. If the employees from top to bottom are highly satisfied and keep an optimistic approach about the growth path of the company then it is sure that company will grow rapidly. They are happy and want to take the company to new heights. When the people working there are happy there is no one who can retain the company’s growth.
Annual General Meeting
Annual General Meeting (AGM) is a way to present the company’s financial details to shareholders and other members connected to the company. All companies are required to conduct Agm after filing the return to ACRA. This is the time when shareholders or other investors of the company put up the questions related to the future prospects of the company. They address their concerns which are being answered by the chief members of the annual general meeting. The date of the meeting is declared to ACRA while filling the company’s return. The companies which are exempted from the annual meeting are required to submit the details of the return while filing the return.
Process of conducting annual general meeting
The meeting is conducted annually at a specific period of time in which the financial statements, transactions, credit and debit are presented in front of the invitees. During this meeting, the planning of next year is also discussed and how they are going to increase their profit in the coming years. The goals, targets and strategies are revised in detail for future prospects.
AGMs are supervised under the direction of the chairman of the meeting, who is the chairman of the board of directors. In the absence of a chairman, any other member at a significant position can hold the meeting. The company secretary or any other person who can jot down the important discussion prepares the minute of the meeting to finalize the documentation. Sometimes, ACRA asks the authority to submit the details of the meeting. This is such a productive and fruitful meeting of the company that some of the major decisions are taken in presence of all the significant members of the company. The shareholders and investors also play a prominent role here as they may question the authority if they make certain amendments in its policies.
Documents presented during the meeting
The chairman of the annual general meeting is responsible for presenting important documents of the company.
- Financial statements
- Balance sheets
- Director’s report
- Auditor’s report
- Future planning to expand the business
- Any significant amendments in the policies for the benefit of the company
The following documents to be sent with the notice of AGM to other members of the company whose presence are required in the meeting. This will assist the members to prepare the questionnaire to be asked from the presenters to solve the queries.