Management's discussion and analysis

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Management's discussion and analysis (MD&A)

A report from management to shareholders that accompanies the firm's financial statements in the annual report. It explains the period's financial results and enables management to discuss topics that may not be apparent in the financial statements in the annual report.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Management's Discussion and Analysis

In a stockholder's report, a summary at the beginning stating what the management believes about the company's previous year or quarter. Generally speaking, management's discussion and analysis state the "bottom line" while the remainder of the report contains more detailed financial information. For example, the discussion and analysis may contain a brief essay stating, "Our company is healthy for reasons A, B, and C

." At the conclusion of that essay, the stockholder may view the financial statement.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
References in periodicals archive ?
Mara also highlighted a new "footnote manager" that delivers a unified version of the close and associated disclosure readiness for the management discussion and analysis (MD & A), financial statements and footnotes.
MD&A Disclosure -- Non-public companies that have a significant ownership or liability interest not represented within management or on the board of directors and organizations with substantial outside capital or organizations that operate within the public trust should consider including disclosures like the Management Discussion and Analysis discussion required by public companies to supplement their financial statements.
Using the management discussion and analysis, financial statements and footnotes of these 208 annual reports, 45 companies (3.4%) were chosen that had material asset impairment losses in at least one of these three years.
* An overview of the reporting entity, which is similar to the management discussion and analysis of private-sector financial statements.
Disclosure of Contractual Obligations in Management Discussion and Analysis
The model also requires a management discussion and analysis supplement intended to give readers, especially users who are less familiar with government financial reports, a brief, objective and easy-to-read analysis of the government's financial performance.
Much of the discussion focuses on analyzing annual reports--the management discussion and analysis section, the financial statements, the disclosures and the financial analysis--so students understand the nature of the transactions and events involved and the industry at hand.
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