Read the case study below. Using the AREA framework, decide whether the Class A common (ie. ordinary) shares may be reported in shareholders' equity. Explain the application of relevant passages from AASB 132 and the Conceptual Framework to the Class A Common Shares, making specific connections between wording in the standards and framework with the features of the shares. In class, discuss your answers in your group and come up with a group consensus of what the accountant should advise the company to do. Do you agree with the proposed classification of the Class A shares as equity? In your answer refer to relevant accounting standards. Identify the issue and why it matters. Determine what you need to find out. RESEARCH Present relevant facts and evidence, or issues Provide your opinion based on your discussion of relevant facts, evidence, or issues Read the case study below. Using the AREA framework, decide whether the Class A common (ie. ordinary) shares may be reported in shareholders' equity. Explain the application of relevant passages from AASB 132 and the Conceptual Framework to the Class A Common Shares, making specific connections between wording in the standards and framework with the features of the shares. In class, discuss your answers in your group and come up with a group consensus of what the accountant should advise the company to do. Do you agree with the proposed classification of the Class A shares as equity? In your answer refer to relevant accounting standards. Identify the issue and why it matters. Determine what you need to find out. RESEARCH Present relevant facts and evidence, or issues Provide your opinion based on your discussion of relevant facts, evidence, or issues