The purpose of this paper is to examine the relevance and usage of annual reports and accounts in individual Ghanaian investment decisions. The paper also assesses both the firm-based and external factors, beyond annual reports and accounts that influence individual investment decisions in Ghana. The paper employs a descriptive survey research methodology to randomly sample 450 active individual Ghanaian investors. The paper finds that majority individual investment decision-making is influenced by information obtained from annual reports and accounts. Individual investors also hugely rely on management advice and recommendations from families and friends in making investment decisions. Accordingly, such recommendations serve as a robustness check on the financial information from annual reports and accounts. Firm-based factors found in this paper to have relevant influence on individual Ghanaian investment decisions include management composition and frequency in corporate advertisements. Investor educational level, macroeconomic data, government budget statements and cultural factors have been found to shape individual investment decisions in Ghana.