Comparative Research Agenda: Employment Relations and Sport Concussion Injuries

This assignment involves a comparative research agenda focusing on two distinct areas: employment relations and sport-related concussion injuries. It requires examining an employment relations record (McLellan & McKinlay, 2014), assessing the mechanism of concussion injury in rugby league (Meagher & Goodwin, 2015; Pavlidis & Hawkins, 2015), exploring the validity of physical therapy assessment via telerehabilitation for low back pain (Truter et al., 2014), and evaluating a corporate strategy (Telstra, 2017) while incorporating relevant illustrations from the appendix. The assignment aims to develop critical thinking, research skills, and analytical capabilities in comparing and contrasting these diverse topics.

RESEARCH ASSESSMENT

TABLE OF CONTENTS
1. Executive summary............................................................................................................1
2. Implications of ASX corporate governance principles followed by Telstra Corporation..1
3. Risk Assessment Procedure..............................................................................................10
4. Analytical process............................................................................................................12
5. Conclusion........................................................................................................................18
REFERENCES..............................................................................................................................19
Appendix........................................................................................................................................21

1. Executive summary
Telstra is a telecommunication and technology business that provides telecom services to
customers in order to increase connectivity and profitability. In this assessment, implications of
ASX corporate governance principles followed by Telstra Corporation will be discussed. The
eight principles are described in assessment followed by company effectively. The process and
importance of risk assessmentis evaluated in order to reduce the impact various resources and
risk on organisation. Income statement, ratio analysis and balance sheet are also provided for the
year 2015 to 2017 in the present report. Nature of Telstra, market overview, regularities and
business strategies are also described in this assessment. Risks involved in financial management
and statements as well as potential steps to reduce risk are also covered. The firm believes on
opportunities avalaible for people by connecting them well in this world.The business build
technology and content solutions that are simple and easy to use. The business is Australia’s
largest and fastest national mobile network.
2. Implications of ASX corporate governance principles followed by Telstra Corporation
The board directors of business are committed to maintain a high standard of
performance, safety and corporate governance for Orion Ltd. . The directors also support
principles and recommendations given by corporate governance (Wilsdon, 2016). The business
mainly focuses on ASX recommendations to ensure that they do not have a negative impact on
firm and shareholder’s interests.
s.
no.
ASX
principles
Guidelines Telstra corporate performance
1 Lay solid
foundations for
management
and oversight
First principle entails
that business entity
should disclose the
roles and
responsibilities of board
and management team.
It also lays emphasis on
including the manner in
which their
Board of directors
The board directors, Farooq Khan
(Chairman), Victor Ho (Executive
Director), Yaqoob Khan (Non-Executive
Director) are responsible for managing the
practices, policies, strategies, operational
activities and management of Telstra. The
board also has a duty to manage corporate
governance. The firm also ensures that
1

performance will be
monitored.
business complies with all rules and
regulations. Identifying the business risks,
audit committee responsibilities etc.
Senior management
The main role of Telstra’s senior
management is to deliver strategic goals
and objectives determined by board. The
work is delegated to executive chairman
and to senior executives for day to day
management of operational activities such
as determination of group policies,
recommending strategies, reporting to
board and management of finance and
operations.
Diversity
The senior management and board
of directors are comprising individuals
according to the cultural diversity and
possessing appropriate qualification and
skilled employees. Investment strategies
are also followed by firm in order to carry
out investment activities.
2 Structure the
board to add
value
As per such principle,
there is a need to ensure
that board must have
appropriate size, skills,
composition and
commitment in relation
to discharging duties
more effectually.
Composition, structure and process
The board is formed for effective
size, composition and commitment to
discharge the duties and responsibilities
(Williams and Mummery, 2015).
Nomination committee
As a consequences of corporation
and size, the board does not have any
2

stand-alone nomination committee. The
board members are responsible for broad
membership, continue monitoring,
identifying the skill and experience needed
to board and competencies of directors.
The main focus is on addressing board
diversity.
Skills, knowledge and experience
The board members of Telstra
should ensure that members have
appropriate and mix of knowledge, skill
and experience to drive business
performance which will also help to
acquire many opportunities to face
challenges. Directors are appointed with
specific business, governance and
corporate skills as well as experience. They
are responsible for managing capital
market, general management, finance and
accounting affairs.
Conflicts of interest
The directors must disclose
potential and actual conflicts that are exists
between interest of directors and their
work or responsibilities to the board.
(Truter, Russell and Fary, 2014). In case if
the director is unable to solve conflicts
than according to the Corporation Act he
must be present in meeting or discussion
room to save approval of remaining
director in business effectively.
3

Company information
All the directors and senior
executives of firm have right to access all
company books according to the legal
requirements and with ethical standards.
The information will be confidential and it
is their duty to not disclose.
3 Act ethically
and
responsibly:
On the basis of ASX
guidelines, business
entity should make
focus on performing
activities in an ethical
and responsible way.
Code of conduct
The business developed a formal
code of conduct that sets and creates
awareness of expected employees,
directors and other members to carry out
their roles and responsibilities (McLellan
and McKinlay, 2014). Business is trying to
encourage and develop a culture that helps
to maintain and improve the image of firm
as a corporate citizen. The code includes a
set of policies such as discrimination,
health and safety, laws, interpersonal
conduct, conflict of interest, drug and
alcohol, etc. The objective of code is to
maintain a peaceful and effective
environment in business.
4 Safeguard
integrity in
corporate
reporting
Formal process needs to
be followed for
verifying and
safeguarding the
integrity of corporate
reporting.
Audit committee
As a consequences of corporation
and size, the board does not have any
stand-alone nomination committee. The
board members are responsible for
safeguarding the integrity of business
4

stakeholders reporting, approving the
financial reports, risk management
functions and monitoring all the financial
activities and performance of audit
committee.
External auditor
The external auditors are selected
in the firm for the purpose of reputation,
professional competence and provision for
values . The business external auditors are
responsible to attend AGM's and to answer
questions asked by shareholders to conduct
and prepare an auditor report efficiently.
The address is Rothsay Auditing Level 1,
Lincoln House, 4 Ventnor Ave West Perth,
Western Australia 6005.
5 Make timely
and balanced
disclosure
Emphasis needs to be
placed on timely and
balanced disclosure
aspects
Continuous disclosure to ASX
The company secretary Victor Ho
is appointed by Telstra and he is
responsible for coordinating and
overseeing the disclosure of information to
ASX as well as to communicate with ASX
and an approval of all announcement made
by directors (Barry, 2018). The business
policy requires all notifications from ASX
concerning business person which affects
price and value of securities as per the
Corporation Act and ASX listing rule 3.1 .
The staff should report to board members
in case of any price sensitive information.
5

In simple words, the Telstra will not
respond to market rumours unless it is
required to do by ASX listing rules or laws
. In the absence of executive chairman,
company secretary is responsible for
managing the and determining whether to
seek a trading halt efficiently.
6 Respect the
rights of
security
holders:
ASX principles lay
focus on protecting the
right of shareholders by
providing them with
valuable information
for decision making.
Board or company
should allow security
holders in relation to
exercising their rights
freely.
Website information
The public and governance
information about company is available for
investors on Telstra website
(http://www.orionequities.com.au). The
website contains complete information
regarding financial, announcements and
other information required for investors.
Investor’s relationship programs
It can be said that shareholders are
the main assets of company that increasing
their value is a mission for Telstra.
Information of business operational
activities and performance is required for
the shareholders to ensure and understand
that mission is being fulfilled by business
effectively and efficiently (Jepsen, Knox-
Haly and Townsend, 2015). The investor
relationship program includes information
communication process to shareholders.
The monthly and yearly information
required by shareholders is available on
company’s website. E-mail, website and
6

other sources are used by business to
promote the communication with
shareholders.
Meetings and electronic communication
The business encourages its
shareholders to participate in AGM and
other shareholder meetings in order to
provide information regarding business
operations. The company, registered
website and email address will help
shareholders to stay connected with
operations and other information. Annual
reports can be collected through internet.
7 Recognise and
manage risk
Sound risk management
plan needs to be
followed for ensuring
smooth functioning of
operations
Risk committee
As a consequences of corporation
and size, the board does not have any
stand-alone risk committee. The board
members are responsible for managing and
controlling appropriate risk management
framework. They are responsible for
reviewing and monitoring policies and
legal laws (SCHUTZ, 2017). It does not
matter either the risk is managed by risk
committee or full board.
Internal control
Directors of Telstra are responsible
for internal control over business
operational activities. Risk has a great
impact on business performance,
operations, financial activities and
7

reputation. Company has clear accounting
and internal control system to manage risk
to the accuracy of financial information
and other financial risk. Risk management
strategies are complies with governance
and other regularities to foster an
integrated approach where the
responsibilities are delegated to line
managers. Telstra is a LIC (Listed
investment company) that it has no direct
material exposure towards social
sustainability or environmental risks
(Runciman, 2016). The investment
committee is responsible for reviewing and
assessing proposed material investment.
This will consider the impact of material
investment to material environment,
economic, social or sustainability risk. The
approach is to develop operational
activities and changing market condition to
maintain risk management and assessment
plans as well as strategies.
Internal audit
Telstra does not have any
independent internal audit system due to
the size and nature of business operations
as well as ability to derive substantially
and benefits which are discussed as below:
The board members are responsible for
managing the internal audit (Pavlidis and
Hawkins, 2015). Assurance towards risk
8

management, control and functions for
government systems will help business to
achieve its objectives and goals effectively.
Evaluation of associated risk exposure and
security information with regulatory
compliance program will help to reduce
conflicts and also provide oversight to the
anti-fraud activities. Executive director and
company secretory are responsible for
implementing non-strategic amendment
towards risk management system in case of
potential requirement and changing
circumstances. The board also seeks
information and recommendations from
executive directors and company secretory
to make strategic changes towards internal
control process and risk management
where required.
8 Remunerate
fairly and
responsibly
Salary or pay structure
of directors should be
fair
Remuneration committee
Board does not have any
independent remuneration committee
because of the size and composition. The
board members are responsible for
reviewing remuneration and performance.
In addition to this, managing policies for
senior executive remuneration, terms and
condition for employment, performance
reviews and reviewing process of
achieving goals and targets is the main role
of committee (James, 2016). The business
incentive schemes and regarding
9

recommendations are also provided by
members to executive chairman in order to
make proposed changes.
Equity-Based Remuneration Scheme
The business does not have any
employee shares option plan and not issued
equity based remunerations yet to
management and directors. Under the share
trading policy of business, employee and
director option holders may not limit their
exposure to risk in any other firm. The
share trading policy is available on
company’s website.
3. Risk Assessment Procedure
Risk assessment procedure is crucial as well as important for firm in order to assess the
risk towards material misstatement exist effectively.
Assessing the risks of material misstatement
The auditor is able to assess risk of material misstatement by obtaining an understanding
of Telstra including internal audit control. This will be done at financial statement level and at
assertion level for account balance, transaction and disclosures classes . The risk assessment
point will help to provide basis for performing and designing other audit procedure. This will
include management inquiries, relevant individual, analytical process, enquiry and observations
(Flynn, 2015). According to ISA 315, risks which are evaluated as a significant risk must require
special audit and considerations. Risk assessment is a matter of judgement that matters such as
transaction complexity, risk of fraud, involvement of related party and a transaction from
outsider should be considered by company effectively.
Market overview
Telstra is a leading telecommunication and technology firm operating in Australia and
providing a full range of telecommunication services to customers and competing in the market .
10

17.6 million retail mobile services are provided by firm in the Australian market with 5.1 million
retail fixed cost services and 3.5 million retail fixed broadband service. The firm believes on
opportunities avalaible for people by connecting them well in this world.The business build
technology and content solutions that are simple and easy to use. The business is Australia’s
largest and fastest national mobile network.
Who regulates clients in Telstra?
As the National Broadband Network (NBN) is built across Australia, NBN Co Ltd will
take over most of Telstra’s fixed phone lines. The business owns a copper wire network that
helps to connect most of the homes in Australia. The procedure is changing that from now NBN
Co Ltd (National broadband Network) will take over the lines in most of the areas effectively.
Telstra is also able to control lines but for the same basis as any other firm resells internet
services or phones to people effectively (Harpham, 2018).
Telstra business strategy
The business is mainly focused on delivering better customer experience by providing
best and quality products and services in the market with best network, sales and support
effectively (Meagher and Goodwin, 2015). The plan is to continue to excel things in which the
business is good and also to make changes to ensure the operation’s effectiveness and
sustainability. Investments will be focused on our core strengths and skills close to international
business. Investment in disruptive technologies to provide strengthen core capabilities.
11

4. Analytical process
Balance sheet ratio analysis
Ratio Calculation Explanation Potential audit
risk and ways to
reduce then same
2016 2017
Liquidity ratios
Current ratio 9340 / 9188 =
1.02:1
7862 / 9159 =
.86:1
Capability of
Telstra Ltd in
relation to meeting
obligations from
current assets has
decreased over the
time frame.
Considering ideal
ratio such as 2:1 it
can be depicted
For improving
liquidity position,
there is a need to
make focus on
controlling
current assets
through
developing sound
strategies.
12
Illustration 1: Business strategy of Telstra
(Source: Telstra online, 2017)

that liquidity
position of
Telstra ltd is not
good.
Quick ratio 9340 – (557 +
426) / 9188 = .91
7862 – (893 +
531) / 9159
= .70
In the FY 2017,
quick ratio
measure of Telstra
Ltd declined
from .91 to .70
respectively. In
comparison to the
ideal ratio such as
1:1 company was
not highly capable
in relation to
converting quick
assets into cash for
meeting current
obligations.
In this, company
should focus on
controlling
current assets
such as cash,
receivables etc in
accordance with
the ideal measure.
Solvency ratios
Debt-equity
ratio
14378 /
15871= .91:1
14574 / 14541
= 1:1
Financial
statement analysis
presents that
capital structure
maintained by
Telstra ltd in 2016
and 2017 was not
good. Moreover,
while raising funds
equal priority was
given to debt and
While raising
finance, Telstra
ltd should keep in
mind ideal
measure such
as .5:1. This in
turn helps in
developing
suitable financial
structure and
thereby
13

equity by the firm. contributes in the
profit margin.
Efficiency ratio
Assets turnover
ratio (in times)
25834 / 41866
= .62
25912 / 42710
= .61
Efficiency ratio
analysis presents
that in 2017
company was
failed to generate
high sales by using
both current and
fixed assets.
By conducting
training session
and developing
competent
financial
strategies assets
turnover ratio can
be improved.
Inventory
turnover ratio
(in times)
13.83 15.11 Increasing trend
indicates that
inventory of the
company has sold
and replaced more
frequently over
2016.
By applying
stock
management
techniques and
undertaking
promotional tools
Telstra ltd can
increase stock
turnover ratio to
the significant
level.
(Galán-Jiménez and Gazo-Cervero, 2014)
Income statement ratio analysis
Ratio Calculation Explanation Potential
audit risk
and ways to
reduce then
same
2016 2017
Profitability ratios
GP ratio 18587 / 14954 / 25912 By doing For
14

25834 * 100
= 71.9%
* 100= 72.0% assessment, it
has found that
GP margin
increased from
71.9% to 72%.
However, no
significant
increase takes
place in the GP
margin of firm.
increasing
the GP
Telstra
should
make focus
on
enhancing
sales
revenue.
Hence, by
enhancing
revenue and
decreasing
the level of
direct
expenses
firm would
become
able to
maximize
GP margin.
NP ratio 3832 / 25834
* 100 =
14.8%
3874 / 25912
* 100 =
14.95%
In 2017, NP
margin of
Telstra moved
from 14.8% to
14.95%
respectively. As
compared to the
prior year NP
margin of
Telstra was
improved but
not to the
significant
level.
By using
budgetary
control
tools
Telstra ltd
can exert
control on
undesirable
indirect
expenses
and thereby
would
become
able to
increase net
profit
margin.
Return on assets (in %) 25834 /
41866 * 100
=9.15%
25912 / 42710
* 100 = 9.07%
Declining trend
from 9.15% to
9.07% has
found in ROA.
This measure
presents that in
2017, Telstra ltd
failed to
For
generating
enough and
suitable
returns
focus need
to be placed
on fixed
15

generate
suitable returns
using total
assets including
both current and
fixed.
assets
maintenanc
e and
effective
usage of
financial
resources.
Return on equity (in %) 25834 /
15871 * 100
=24.14%
25912 / 14541
* 100 = 26.6%
ROE of Telstra
ltd inclined by
2% at the end of
2017. Hence, it
can be
presented that
in 2017 firm has
generated
suitable margin
by using
shareholders
equity.
For
increasing
return by
using
shareholder
s equity
focus need
to be placed
on
developing
competent
strategic
and policy
framework.
Common size analysis of income statement
2016 Percent 2017 Percent
Revenue 25,834 100.00% 25,912 100%
Cost of revenue 7,247 28.05% 10,958 42.3%
Gross profit 18,587 71.95% 14,954 57.7%
operating expenses
Sales, General and administration.. 6,974 27.00% 8,100 31.3%
Other operating expenses.. 4,503 17.43% 4,787 18.5%
Total operating expenses 11,477 44.43% 12,887 49.7%
Operating income 7,110 27.52% 2,067 8.0%
Interest Expense 796 3.08% 729 2.8%
Other income (expense) -714 -2.76% 4,309 16.6%
Income before taxes 5,600 21.68% 5,647 21.8%
Provision for income tax. 1,768 6.84% 1,773 6.8%
Net income from continuing
operations ... 3,832 14.83% 3,874 15.0%
Common size analysis of balance sheet
2,016 Percent 2,017 Percent
16

Assets
Current assets
Cash and cash equivalents 3,550 8.20% 938 2.2%
Total cash 3,550 8.20% 938 2.2%
Receivables 3,343 7.72% 3,635 8.6%
Inventories 557 1.29% 893 2.1%
Deferred income taxes 8 0.02% 11 0.0%
Prepaid expenses 426 0.98% 531 1.3%
Other current assets 1,456 3.36% 1,854 4.4%
Total current assets 9,340 21.58% 7,862 18.7%
Non-current assets 0.00% 0.0%
Net property, plant an... 20,581 47.55% 21,350 50.7%
Equity and other investments 565 1.31% 486 1.2%
Goodwill 1,346 3.11% 1,269 3.0%
Intangible assets 7,883 18.21% 8,289 19.7%
Deferred income taxes 54 0.12% 44 0.1%
Prepaid pension benefits 15 0.03% 142 0.3%
Other long-term assets 3,502 8.09% 2,691 6.4%
Total non-current assets 33,946 78.42% 34,271 81.3%
Total assets 43,286 100% 42,133 100%
Liabilities and stockholders’
equity
Liabilities
Current liabilities
Short-term debt 2,537 5.9% 2,369 5.63%
Capital leases 118 0.3% 107 0.25%
Accounts payable 1,465 3.4% 1,185 2.81%
Deferred income taxes 176 0.4% 161 0.38%
Deferred revenues 1,118 2.6% 1,236 2.93%
Other current liabilities 3,774 8.7% 4,101 9.74%
Total current liabilities 9,188 21.2% 9,159 21.75%
Non-current liabilities.. 0.0% 0.00%
Long-term debt 14,378 33.2% 14,574 34.61%
Capital leases 269 0.6% 234 0.56%
Deferred taxes liabilities 1,493 3.5% 1,539 3.65%
Deferred revenues 1,022 2.4% 1,161 2.76%
Pensions and other benefits 173 0.4% 166 0.39%
Minority interest 36 0.1% 19 0.05%
Other long-term liabilities 820 1.9% 721 1.71%
Total non-current liabilities 18,191 42.1% 18,414 43.72%
17

Total liabilities 27,379 63.3% 27,573 65.47%
Stockholders' equity 0.0% 0.00%
Common stock 5,167 11.9% 4,421 10.50%
Other Equity -95 -0.2% -147 -0.35%
Retained earnings 10,642 24.6% 10,225 24.28%
Accumulated other comp... 157 0.4% 42 0.10%
Total stockholders' equities 15,871 36.7% 14,541 34.53%
Total liabilities and equities 43,250 100% 42,114 100%
5. Conclusion
It can be concluded from the above report that Telstra is telecommunication business
provides telecom services to customers in the market specially in Australia. It can be concluded
that The board directors of business is committed to maintain a high standard of performance,
safety and corporate governance for Orion Ltd and the entities it controls effectively. Telstra is
mainly focus on ASX recommendations to ensure they do not have a negative impact on firm
and shareholder interests.
18

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Wilsdon, J., 2016. The metric tide: independent review of the role of metrics in research
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Online
Telstra, 2017. Business strategy of Telstra. [Online]. Available through:
<https://www.telstra.com.au/aboutus/ourcompany/future/Ourcorporatestrategy/>.
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Appendix
21
Illustration 2: Income statement of Telstra

22
Illustration 3: Financial position of Telstra

23
Illustration 4: Income Statement of Telstra

24
Illustration 5: Corporate statement and Governance of Telstra