Representatives of Ernst & Young and Bakcell, a wireless services operator, made a joint presentation to the fourth-year students of the Special Talent Group of the University on 24 November 2006, Trendreports with reference to the statement of Ernst & Young.
The statement mentions that Emil Hasanov, the accounting manager of Bakcell and Ayten Isayeva, the audit manager of Ernst & Young discussed with students the accounting issues in telecom companies. The discussion involved the complex revenue recognition issues, advanced practices of other telecom companies, revenue assurance at the telecom companies and the ways to address revenue fraud. Students were surprised to find out that about 11.6% of revenue of telecom operators worldwide gets lost due to fraud and lack of a revenue assurance function according to a study by Azure Solutions. Students, with solid background in accounting, held a lively discussion with the presenters.
The presentation was held as part of the course on advanced accounting topics for the University students organized by Ernst & Young, a leading global professional services firm, with financial support from the American Chamber of Commerce.
Curriculum organizers believe that such innovative techniques need to be incorporated to the standard curriculum to establish a touch of students' academic knowledge to the real-world examples and encourage such initiatives.
Bakcell is one of the fastest growing companies in the telecommunications industry in Azerbaijan. With new management team on board, Bakcell is becoming a market-led, quality-driven company based on three major values: affordability, best in class technology and simplicity. Since January 2004, Bakcell operates as a fully privatized company.
American Chamber of Commerce in Azerbaijan is a non-profit business organization, committed to improvement of the business climate in Azerbaijan and exploring business opportunities for Azerbaijani and American businessmen. The Chamber is supporting the efforts of transition to the new global accounting standards in Azerbaijan.
Ernst & Young, a global leader in professional services, is committed to the quality of financial reporting. Its 114,000 people in 140 countries pursue the highest levels of integrity, quality, and professionalism in providing a range of sophisticated services centered on core competencies of auditing, accounting, tax, and transactions. Ernst & Young CIS offers services in thirteen offices throughout the CIS with 2,637 professionals.