CIRI recently released its 2011 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 34-37 of CIRI’s 2011 annual report. The consolidated financial statements include:
- Balance sheets
- Statements of Operations
- Statements of Cash Flows
- Statements of Changes in Shareholders’ Equity and Comprehensive Income (Loss)
The consolidated financial statements are accompanied by footnotes that provide additional details about the Company’s financial position, investments and earnings. An independent auditor, KPMG LLP, audits the financial statements and issues its opinions as to CIRI’s conformity with generally accepted accounting principles. Following the financial statements and footnotes is CIRI management’s discussion and analysis that provides additional information about the Company’s operations and holdings.