uncertainty 1
The article is about utilization of accounting policies and malpractices and role of the canvassor that contend part in the leave of alphabet Learning Centre.
The article raises the controversial national whether negligence of attender or failure of regulatory story Policies had contributed to the collapse of ABC.
The article talks about how the high-octane boodle of ABC begins to vanish, indicating enormous social, political and economic disasters.
ASIC which found no problems when the issue on valuation of intangible summations of ABC was elevated in 2006 now is investigating closely on ABC collapse.
Pitcher Partners which treated government subsidies and subsidies from developers as normal tax income despite the fact that they should impart been treated in diverse ways defended as their actions saying that application of accounting standards is hooked to interpretation and professional judgement and stand by their audit of ABC learning.
Also recognition of large intangible asset was justified on same way although Earnst and Young have very different interpretation of the treatment of revenue, earning and intangibles.
KPMG which was bought as indifferent their party to attribute between Earnst and Young and Pitch Partners could not find fault on both parties and opinions.
This difference as pointed by many experts was due to interpretation on accounting principles.
Thus in conclusion article is about the collapse of ABC learning and it provides an insight into how different factors have played role in downfall of ABC learnings.
Question 2
There are various stakeholders in these articles. Parents and children as customers, employees as basic revenue providers, managers and board of directors as managers and decision shaper of company operation, investors or shareholders as owner of ABC learning, creditors or banks as lender of the fund, various government agencies as regulators, auditor and liquidators are stakeholders in ABC learning.
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