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MD&A - Management Discussion and Analysis. These is a section of a company's annual report in which management, discusses numerous aspects of the, both present and past.
Some aspects include and not limited to;
Pay attention to what your competitors and peers are disclosing.
Answer the most important questions.
Use plain language.
keep the overview brief
Quantify and describe multiple factors effect.
Give a top - down analysis.
Among other things, MD&A provides an overview of the previous years of operations, and how the company's fared in the time period of operations, and will also touch on upcoming year analyzing its future goals.
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