Ann: Media release, page-36

"....do your adjustments just account for changes in inventories, receivables and payables? Or do you account for changes in total working capital, including cash?"

MarsC,

I'm not too sure I understand your question.

Working capital I define as Stock plus Debtors less Creditors.

Changes in cash is merely an outworking of the net cash flows, which have imputed in them any changes in working capital between balance dates.

I'm not sure to what end you want to use changes in the cash balance as an input into working capital calculations, and therefore as a check on the quality of the accounts.