Write a report answering the questions below, based on annual reports of the company RIO TINTO LIMITED (750 words). You need to do some extended personal research and self-directed learning in order to complete this assignment. 1. Conceptual framework defines a number of requirements relating to general purpose financial reporting by reporting entities within Australia. Why or why not would you argue that the selected company is a reporting entity? (Do NOT give answers in Yes/no only. Explain various points that inform you that the company is reporting entity). 2. Identify various categories of assets and their reported values (current or non- current including intangibles). Compare and comment upon the methods of valuing (as per AASB116) and depreciating property, plant and equipment (PPE). Explain why or why not you would believe that the selected company included any asset/s in its statement of financial position that they do not legally own? 3. Identify which accounting standards (AASB, IASB, GAAPs or any other standards) the sample company has used to report its financial accounting information. Do you believe that IASB's efforts standardise and harmonise accounting standards can be successful in future?