Return to the annual reports your group obtained for the exercise in Chapter 1. Find the statement of financial position (balance sheet), income statement (profit and loss account) and statement of cash flows. Use the outline formats contained in this chapter to identify the main areas of each of the published statements. Work together in preparing a list of features which make the formats useful to the reader. Note also any aspects of the presentation which you find unhelpful at this stage. (It may be useful to look back on this note at the end of the course as a collective check on whether your understanding and awareness of annual report items has improved.)