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Analysis in Financial Statement of Leap Wireless

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Submitted By hillcatb
Words 5069
Pages 21
Table of Contents
Executive Summary ------------------------------------------------------------------------- page 1
Wireless Telecommunication Industry -------------------------------------------------- page 2 Leap Wireless International, Inc. -------------------------------------------------------- page 3
Verizon Communication, Inc. ------------------------------------------------------------ page 4
Restatement of Leap Wireless ------------------------------------------------------------ page 4
Analysis in Accounting Policies and Disclosure Practices --------------------------- page 6
Comparative Analysis of the Financial Statements ------------------------------------ page 8
Governance Structures --------------------------------------------------------------------- page 11
Conclusion ----------------------------------------------------------------------------------- page 14
Reference ------------------------------------------------------------------------------------ page 15
Additional Information -------------------------------------------------------------------- page 17

Executive Summary
At least 90% people in the United States use at least one kind of wireless telecommunication services, such as cellular networks service. Leap Wireless International, Inc. is the 5th largest United States public telecommunications company. It competitors include AT&T, T-Mobile or Verizon. This paper will be mainly focused on the restatement of Leap’s restatement of financial statements, analysis of Leap Wireless International, Inx and Verizon, and the differences between the governance structures. First of all, on November 9th 2007, Leap announces that it will restate its financial statement for fiscal year 2004, 2005, and 2006 and for the first two quarters of 2007 to correct errors in previously reported service revenues, equipment revenues and operating

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