1) Financial Reporting Measures are evolving conventional matter, and there stands an immutable thin line between wrong and right answers. The first measure is T22 Strategy Scorecard where Telstra track their progress. Second measure was 22% improvement in customer experience out of 820,000 (Annual Report p4, 2019). An initiative for better sustainable measures was also made by ANZ. There were Risk Management Systematic measures taken to where RMF addresses each risk to bring it to an acceptable level. Additional measures to evaluate, report and monitor controls were actively taken to mitigate risks (ANZ Annual Report p44, 2019).
2) Yes it adds value to the financial reporting. It emphasizes on fair value accounting use and historic cost measurements. Although estimates and judgments are required in financial reporting, these should be made in good faith, such as BJR rule (Annual Report, 2019). Since Liabilities and equity makes up assets, return on average assets of Telstra is 8.8% and ANZ is 12.00%, the total assets of ANZ is more than double from Telstra.
3) There is an observed harmonisation and/or telecommunication integration between NZ and Australia. There are free trade agreements. The launch of 5G is another similarity between ANZ and Telstra. Debt maturing and the relative measures of debt servicing, gearing, mature measurements and interest cover were closely knit (Annual Report, 2019). The interest rate and inflation weren’t materially different. The relationship between New Zealand and Australia and uniquely close, where they share longstanding relationships defence ties, trading lines are favourable with more extensive government-to-government ties. The market integration of both countries are very closer and favourable trans-Tasman business culture is appreciated.
Annual Report 2019. (2019). Annual Report. doi: 10.30875/a26cc32a-en
Annual Report 2019. (2019). Annual Report. doi: 11.76456/b29cb33a-nh
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