Dashed up with class report (7)
I believe the answer is:
narrate
'report' is the definition.
(to narrate is to report or relate a story)
'dashed up with class' is the wordplay.
'dashed' becomes 'ran' (I've seen this in another clue).
'up' shows that the letters should be reversed in order (in down clue: letters go upwards).
'with' is a charade indicator (letters next to each other).
'class' becomes 'rate' (class can mean to rank or rate).
'ran' written backwards gives 'nar'.
'nar'+'rate'='NARRATE'
(Other definitions for narrate that I've seen before include "tell tales" , "Give (film) commentary" , "Relay" , "Chronicle" , "Tell story,recount" .)