SECTION A (90 marks) “This reporting season may not provide much of a guide to future earnings numbers, but will provide some insight into how the companies are coping with, and responding to, the...

ACCOUNTING
Executive Summary
In this time of COVID 19 pandemic, several organisations have taken several approaches for the control of pandemic issues. In this regard, Transurban of Australia has adopted several strategies for combating the consequences of international pandemic. In this report, all the approaches adopted by Transurban for COVID control have been illustrated. Additionally, some issues that are not in the corporate information of the organisation have been pointed out. Some recommendations are provided so that the Australian commonwealth can induce creativity with innovation in the organisations.
Table of Contents
Executive Summary    2
Section A:    4
1. Introduction    4
1.1 Introduction to the Paper    4
1.2 Introduction to the Organisation Transurban Company    4
2. Findings    4
2.1 Approaches by Transurban for Reporting COVID 19 Issues, Climate Change Impact for Betterment of Future Issues    4
2.1.1 COVID 19 Combat Approaches of Transurban    4
2.2 Approaches Taken by Transurban in Regard of COVID 19 and Climate Change Situation Situations Mentioned in their Reporting    5
2.2.1 Reported Approaches of Transurban    5
2.2.2 Implemented Strategies    5
2.2.3 Effect on Financial Statements    7
2.3 Issues in the Corporate Report of Transurban 2020    7
3. Conclusion    8
4. Recommendations to Standard Settings Organisations of Australia and Intergovernmental Organisations of Australia    8
4.1 Recommendation 1    9
4.2 Recommendation 2    9
4.3 Recommendation 3    9
Section B    10
Rating Myself    10
Self-Reflection about Completion of Assignment    10
a.    10
b.    11
c.    11
d.    11
References    12
Section A:
1. Introduction
1.1 Introduction to the Paper
In this report as a winter vacation Intern of an International Accounting firm of Melbourne office, a detailed analysis will be prepared for Australia based Toll Road Management Organisation — Transurban. The discussion will be conducted about the ways they are tackling the situation of COVID 19 Pandemic and the approaches taken by the management of Transurban concerning the reporting of the climate change situation in their operation (Zapata Barrero, 2020). Apart from these three recommendations, which could be implemented by the independent setting organisations, regulators, lawmakers and intergovernmental organisations like the United Nations. These recommendations will serve the purpose of improving all the issues found in the reporting so that shortly all these problems can be averted.
1.2 Introduction to the Organisation Transurban Company
Transurban is one of the notable road operator companies of Australia, whose leading business and service module is to develop and manage the urban toll roads management in Australia, Canada and the United States. The organisation Transurban was officially incorporated in the year 1996 and is formally listed on the Australian Securities Exchange. It is headquartered in Melbourne with approximately 1500 employees currently working in this organisation. The vision statement of the organisation is "Our Toll roads get people where they want to go, quicker, safer and easier”.
2. Findings
2.1 Approaches by Transurban for Reporting COVID 19 Issues, Climate Change Impact for Betterment of Future Issues
2.1.1 COVID 19 Combat Approaches of Transurban
Due to the COVID 19 pandemic, which has recently shaken the economic as well as, social foundation of all the countries due to proclamation of the complete lockdown of all the states. As identified by the management of Transurban the government of all the states and for this instance, the Government of Australia has strictly mandated the travel restrictions. Due to this traffic ply on the roads has been wholly suspended, which declined the revenue substantially since March 2020, from when pandemic has taken the decisive role (Kruszewski, 2020).
However, in the report of the organisation of the year 2020, the organisation has proclaimed that from the very beginning of the pandemic phase. They have taken the priority of doing every act very prominently so that they keep their employees, contractors and customers safe, healthy and prosperous. Even during the initial phases of the pandemic, the organisation has taken efficient action for the place of the sufficient debt funding for ensuring the business in a strong position for withstanding the significant impacts on the earning.
2.2 Approaches Taken by Transurban in Regard of COVID 19 and Climate Change Situation Situations Mentioned in their Reporting
2.2.1 Reported Approaches of Transurban
The crisis has been severely, unprecedented, as the number of customers has been experiencing financial difficulty. The company has made the priority to provide supportive assistance to the frontline workers. These workers work in the road sites to continue with the construction of the infrastructure of the projects for the city connectivity. In addition to this, a new credit program and extended hardship service have been implemented for the best customer services.
2.2.2 Implemented Strategies
Apart from this in the crisis, the organisation Transurban has extended its Australian Linkit Assist services for providing up to three months of toll credits. Those people who have lost their jobs or the very experienced significant reduction in the working hours due to the Corona pandemic. In this way, the organisation has worked for the cause of the people. Under this program, the eligible health workers, the aged, disabled careers as well as the emergency services workers are also under this scheme.
Apart from this, under the approaches of the COVID 19, the company has evolved the credit program for focusing on the customers who are experiencing financial difficulty due to the COVID 19 in FY21. In...