Question:

Refer to the latest financial report of a public listed company - Coles, and answer the following questions using the consolidated financial statements and notes. You can find the financial statement of a listed company on the ASX website.

(Notes: In your answer, please state clearly the company name and the page number of the report you are referring to. In the end, you also need to attach the financial statements you adopted in this question.)

Required:

(a) Please refer to the consolidated balance sheet to state the accounting equation. Explain why the change in equity equals the residual change between total assets and total liabilities. [ DO NOT WORRY about consolidated sheet since just need description ]

(b) Refer to the consolidated cash flow statement, explain the net increase (decrease) in aggregate by operating, investing and financing categories.

(c) Explain whether it is possible list all the expenses in the financial statements? If not, how to categorize them? Refer to the information in the financial statements for your discussion.

(d) Corporate reporting is evolving and is more than just reporting on financial (quantitative) information. Reporting on the entitys performance related to people and the planet is increasingly important and included within the annual report or as a stand-alone report. List examples of such reporting by the company you selected. Just need overall theory description