Select the latest annual report of an ASX-listed company. From the annual report, complete the following tasks: 1. Identify all major classes of income and expenses shown in the companys annual report. 2. For each identified class of income and expenses, explain the recognition criteria used by the company. 3. Identify each category of equity item reported by the company 4. For each identified category of equity, explain how it was created/what is the source of that category of equity. 5. Identify all items that the company has reported as Other Comprehensive Income. 6. What is the significance of classifying an item as other comprehensive income?

Part B From the company's annual report you selected, identify the reconciliation statement showing the reconciliation between net operating profit and cash flows from operations. 1. How does the direct method of cash flow statement differ from the indirect method of cash flow statement? 2. Identify the income and expense items for the difference between net operating profit and cash flows from operations. For each item, describe if the item has caused an increase or decrease in cash flows from operations relative to the net operating profit. 3. Which one of the income or expense items has created the most difference between net operating profit and cash flows from operations? Explain how this item has created the difference between net operating profit and cash flows from operations. 4. Which current assets and current liability items have created the difference between net operating profit and cash flows from operations? For each item, describe if the item has caused an increase or decrease of cash flows from operations relative to the net operating profit. 5. How do changes in current assets and current liabilities items create the difference between net operating profit and cash flows from operations?