Israeli Annual Reports

Israeli public companies adopted IFRS in 2008. Prior reports use Israeli GAAP. Banks follow BOI adaptations, insurance companies follow IFRS 17 since 2023.

• Part A: Description of Business (operations, markets, risks)
• Part B: Board Report (MD&A, financial review)
• Part C: Financial Statements (balance sheet, P&L, cash flow)
• Part D: Additional Information (officer compensation, audit committee)

• Maazan = Balance Sheet
• Doch Revach VeHefsed = Income Statement
• Hachnasot = Revenue
• Revach Naki = Net Profit
• Nechasim Shotfim = Current Assets
• Monitin = Goodwill
• Odfim = Retained Earnings
• Tzad Kashur = Related Party

• Sec. 171: Annual financial statements obligation
• Sec. 172: Board approval required
• Sec. 267-269: Audit committee requirements
• Sec. 270-275: Related party transaction approvals

Example 1: Analyze a TASE-Listed Company's Annual Report

User says: "Help me understand Teva's latest annual report from MAYA" Actions:

1. Identify report type: Annual Report (Doch Shnati) filed on MAYA system
2. Locate key sections: Balance Sheet (Maazanit), Income Statement (Doch Revach VeHefsed), Cash Flow
3. Extract key metrics: revenue, operating profit, net profit in NIS
4. Compare with previous year and sector benchmarks
5. Note auditor opinion and any qualifications Result: Structured analysis of annual report with key financial highlights in context

Example 2: Compare Israeli Bank Financial Statements

User says: "Compare Leumi and Hapoalim annual reports" Actions:

1. Pull latest annual reports from MAYA (maya.tase.co.il)
2. Extract comparable metrics: total assets, net income, ROE, capital adequacy
3. Normalize data to NIS millions for comparison
4. Note regulatory differences in reporting (Bank of Israel requirements)
5. Create comparison table with key ratios Result: Side-by-side comparison of two Israeli banks' financial performance

Scripts

• scripts/financial_parser.py -- Hebrew-English financial term glossary with search functionality covering balance sheets, income statements, and MAYA filings. Run: python scripts/financial_parser.py --help

References

• references/hebrew-financial-terms.md -- Complete Hebrew-English financial terminology reference with tables for financial statements, income statement items, MAYA filing types, and Israeli accounting standards (IFRS-IL). Consult when translating financial terms or navigating Hebrew financial documents.

Error: "Cannot find report on MAYA system"

Cause: Company may file under a different Hebrew name or subsidiary Solution: Search MAYA by securities number (mispar niyar) rather than company name. Hebrew company names may differ from the English trading name.

Error: "Financial terms not matching standard translations"

Cause: Israeli companies sometimes use non-standard Hebrew financial terminology Solution: Consult references/hebrew-financial-terms.md for standard terms. Some companies use colloquial Hebrew instead of formal accounting terms (e.g., "רווחים" instead of "רווח נקי").