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Presentation of Accounting Information by Telstra Assignment

   

Added on  2021-06-14

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Presentation of Accounting Information by Telstra 1PRESENTATION OF ACCOUNTING INFORMATIONby (Your Name) Company Accounting Professor’s Name Name of Institution Location of Institution Date
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Presentation of Accounting Information by Telstra 2Presentation of Accounting Information TO: The Board of DirectorsFROM: The Accounting and Finance TeamDATE: 12th May 2018SUBJECT: FINANCIAL STATEMENT ANALYSIS We are hereby writing to provide you with an overview of the 2017 audited financial statements. All of you can agree with us that 2017 was a very challenging year for the company due to the numerous financial and operational challenges that we faced. Nevertheless, we are happy that we were able to attain a number of financial set targets by the year-end. This memo intends to highlight a few issues regarding the manner in which the company is reporting the corporate governance policies, sustainability solvency, the role of the audit committee, the disclosure of information about the non-controlling interest, issues to do with goodwill and foreign currency transactions.Corporate Governance Policies at TelstraAdherence to the established set of corporate governance policies is very important. Telstra has been showing commitment towards providing excellent communication to all the relevant stakeholders. This has been done through timely, transparent and accountable reporting of the all the pertinent issues relating to how the management is making use of the established corporate governance issues. When you look at the 2017 annual reports, you can realize that the company disclosed all the corporate governance policies that are currently in place.(Telstra Annual Report 2017, pp. 20). This is intended to provide long-term leadership as well as
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Presentation of Accounting Information by Telstra 3sustainability for the company. The management has also placed a lot of importance on corporategovernance policies as a way of enhancing the interest of the shareholders and other stakeholders. This is because governance framework plays a very important role of providing a structure in which corporate strategies and objectives are set, monitored and the related risks managed in time(Choudhury and Petrin, 2018, np.). It also provides a clearer framework for accountability in decision making across all the business sections by giving a guidance on the behavioural standards that are expected.Because there are constant changes in the market concerning corporate governance practices, the company leadership is taking a key role in reviewing the current policies to ensure that they align with prevailing marketplace practices, regulations and expectations(Telstra.com.au, 2018, np.). For instance, the company has disclosed in its 2017 annual report Corporate Governance Statement about its compliance with the third edition of Australia's Securities Exchange ASX corporate Governance Councils Corporate Governance Principles and Recommendation popularly known as the ASX Recommendations. The reporting of the company's corporate governance framework is taken to be an important matter because it plays a very integral role in supporting the business affairs and also in delivering the company's financialstrategies.Sustainability Solvency Reporting by TelstraTesla being one of the large telecommunication and technology companies in Australia places a lot of importance on sustainability reporting. Apart from helping the community and customers to adapt to the technological opportunities and changes, the company has also disclosed its intention to enable everyone to thrive in a digital world(Telstra Exchange, 2018, np.).
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