There are as many ways of opening a log as there are sawyers.

I think that one should have in mind what he wants from the log before he starts. That can change as you discover what is inside. Procedures can be different depending on what you are looking for, too.
Here is one way for a bandsaw:
put the log on the mill so that the saw enters the little end.
Turn the log so that the heart crack is vertical.
level the center of the log to the bed
Open a "face" on the top of the log that is the width of the board you wish to produce.
Drop down and remove that flitch which will become that first board.
Spotting a target depth, continue to remove flitches until you reach it. (you are aiming to keep the pith in the center of cant, which will keep the grain centered in the boards)
Turn the cant 180 degrees and put the flat side down on the bed.
Do the same thing to the other side until you reach your target. (having reached your target on both sides will leave you with a cant that is the width of the boards you wish to remove.)
Turn the cant 90 degrees and put the cant flat against the squaring dogs.
level the center of the cant to the bed.
open a face on the cant.
remove the flitch.
continue cutting until the cant bows or you approach the pith
Turn the cant 180 degrees and put the flat face down on the mill It will be more stable now.
begin cutting from the top down until you have turned the entire cant into boards.
Pay attention to the air gap beneath the cant. If the cant is bowing because of tension, the gap will widen and the cant can be turned 180 to relieve the tension.
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That's one way.
sawing for grade may have you leveling the top of the log rather than the pith and taking the leveling cut out of the center of the log.
Quarter sawing may lead you to cut a log into thirds or more and then cut these large flitches to get boards.
You may modify your approach depending on the size of the boards or timbers you are removing.
You may modify your approach depending on whether you are grade sawing or cutting construction wood.
You may vary your approach in mid stream if you find knots, rot or figure.
What it really boils down to is that you should learn as many reasons for turning a cant, opening a log or removing a board as you can so that you know, when the time comes, how to treat each individual log.
In my estimation, squaring a cant with 4 cuts will waste wood. There are reasons to do so. Perhaps the log is small. Perhaps the customer has requested it to save time (if you charge by the hour). I resist the temptation to square with four cuts and prefer to test myself in getting the most from the log.