Case Study of the Nortel Company

Abstract Nortel became a prominent telecommunications company during the 1990s, but saw a swift decline starting in August of 2000 due to unethical accounting procedures that dissociated the company with Generally Accepted Accounting Principles, instead using pro-forma accounting procedures that could be used to hide the company’s poor performance. The purpose of this paper is … Read more

The Importance of Accounting

Mrs. Townlian Accounting January 19 Accounting is planning, analyzing, and interpreting financial information. Or less commonly known as the art of recording, classifying, summarizing, in a remarkable way, in terms of money, transactions, and events usually of financial classification (“Users Of Accounting”). Accounting allows those dealing with financial numbers and processes to keep close attention … Read more

Financial Statements Analysis

Every enterprise whether big, medium or small, needs finance to carry on its operations and to achieve its targets. In fact, finance is so indispensable today that it is rightly said to be the life blood of an enterprise. Without adequate finance, no enterprise can possibly accomplish its objectives. So that the study of financial … Read more

The Role of the Accountant in Corporate Governance of Business Organizations

In context of corporate governance, there are two vital elements that needed to be maintained in order to ensure efficiency and transparency of organizational operations. These two elements are accountability and performance. Shareholder’s confidence is enhanced by good corporate governance practices. Thus, Good corporate governance creates shareholder’s value and secures corporate image in the competitive … Read more

Standard unqualified and qualified opinion in audit

An audit opinion is a verification that accompanies financial statements based on an audit of the accountant’s opinion of the procedures and records used to provide the statements whatever of whether the financial statements have exist material misstatements. There are four types of audit opinion which are standard unqualified opinion, qualified opinion, adverse opinion and … Read more

The Role of the Accountant in Corporate Governance of Business Organizations

In context of corporate governance, there are two vital elements that needed to be maintained in order to ensure efficiency and transparency of organizational operations. These two elements are accountability and performance. Shareholder’s confidence is enhanced by good corporate governance practices. Thus, Good corporate governance creates shareholder’s value and secures corporate image in the competitive … Read more

Standard unqualified and qualified opinion in audit

An audit opinion is a verification that accompanies financial statements based on an audit of the accountant’s opinion of the procedures and records used to provide the statements whatever of whether the financial statements have exist material misstatements. There are four types of audit opinion which are standard unqualified opinion, qualified opinion, adverse opinion and … Read more

The Generally Accepted Accounting Principles (GAAP)

The Generally Accepted Accounting Principles, or GAAP, are the accounting principles, standards, and procedures employed by companies in recording their financial statements (“Comprehensive guide…”, 2018). This principle is used to make sure that investors keep a consistent level of financial statements when trying to figure out which company to invest. The GAAP includes revenue identification, … Read more

Accounting industry

Accounting is a system by which financial information is identified, recorded, analysed, summarized, and reported for the use of decision makers. Put simply, accounting is the language of business. An accounting system tracks down all the financial activities of an organization (whether it’s the great Fortune 500 company, a small independent book publisher, a non-profit … Read more