Om Malik, writer at Business 2.0 and power blogger, has posted his thoughts on the Nortel announcement from a couple days ago that they would have to restate their earnings again. His reaction is one of incredulity that Nortel, “a big NYSE company,” could actually not be able to get their accounting straightened out afterContinue reading “Nortel’s revenue recognition wrinkles”
Category Archives: Auditing
Revenue recognition and Nortel
Nortel Networks Corp. once again will have to restate its financial results to fix accounting mistakes, the company said on Friday as it posted a fourth-quarter loss of $2.2 billion. Their chief executive maintains that the revenue was just recognized in incorrect periods, from 2002 through 2005. Revenue recognition is definitely a touchy subject theseContinue reading “Revenue recognition and Nortel”