Please refer to Telstra annual report 2019 and answer the following questions.

1. During the 2019 financial year, which accounting standard is used for recognising leases on assets leased by the company? What is the total amount of lease commitments as lessee at 30 June 2019 (ignore leasehold improvements)?
2. Explain whether the adoption of AASB 16 Leases is likely to have a material effect on the reports of the company, or whether it has had a material effect if already adopted, with reference to your companys leasing commitments. Include discussions relating to accounting for leases from both lessor and lessee perspectives. Provide references to your companys report, as well as two relevant journal articles, and discuss the implementation of AASB 16, the major reporting changes and the likely effect of these changes.