CIRI recently released its 2009 annual report. This document summarizes the Company’s performance last year and contains information that shareholders and interested readers can use to better understand CIRI’s business and investments. Annual report financial statements can be difficult to understand. This guide explains key parts of the financial statements that are on pages 20-23 of CIRI’s 2009 annual report.
The financial statements include:
*Balance Sheets
*Statements of Operations
*Statements of Shareholders’ Equity and Comprehensive Income
*Statements of Cash Flows
They are accompanied by footnotes that provide additional details about the Company’s investments and discuss Company earnings and its financial position at year-end. Management’s Discussion and Analysis follows the audited financial statements and gives additional information about the Company’s operations and holdings. An independent auditor, KPMG, LLP, audits the financial statements and issues its opinion as to CIRI’s conformity with U.S. generally accepted accounting principles.
