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Technology Stocks : Nortel Networks (NT)
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To: OrionX who wrote (14262)11/13/2004 9:05:06 AM
From: Qualified Opinion  Read Replies (1) of 14638
 
There are gray areas but the last status update gave reasons for the reallocation of revenue within the period 1999 thru 2003. Per the status update, Nortel has been in discussions with the SEC and is waiting for a ruling on the accounting for embedded software.

Independent public accountants should check the internal controls and revenue cutoffs. Materiality can be defined by a 3% difference in an account balance

P.S. - Nortel did acquire approximately 18 companies within the time period 1998 thru 2000.
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