Accountants and financial managers are often the first professionals to realize that a financial problem exists within a corporation but must be familiar with the various alternatives available to clients before they can offer solutions. Completely updated, Bankruptcy and Insolvency Accounting, Seventh Edition, Volume 1 provides detailed information on SOP 90-7 and FASB statements 141, 142, and 144 and revisions made in CSSR 93-1 by CSSR 03-1. The process of corporate restructuring is thoroughly described for controllers, CEOs, CFOs and CPAs with small businesses as clients.

Accountants and financial managers are often the first professionals to realize that a financial problem exists within a corporation but must be familiar with the various alternatives available to clients before they can offer solutions. Completely updated, Bankruptcy and Insolvency Accounting, Seventh Edition, Volume 1 provides detailed information on SOP 90-7 and FASB statements 141, 142, and 144 and revisions made in CSSR 93-1 by CSSR 03-1. The process of corporate restructuring is thoroughly described for controllers, CEOs, CFOs and CPAs with small businesses as clients.

Preface.Acknowledgements.About the Author.Part One: Bankruptcy and Insolvency Environment.Accountant's and Financial Advisor's Role in Perspective.Economic Causes of Business Failures.Part Two: Legal Aspects of Bankruptcy and InsolvencyProceedings.Turnaround Process.Nonbankrutpcy Proceedings.Nature of Bankruptcy and Insolvency Proceedings.Rehabilitation Proceedings Under the Bankruptcy Code.Retention of the Financial Advisor and Fees.Accounting and Financial Services for Debtors-in-Possession orTrustee.Other Financial Advisory Services for Debtors-in-Possession orTrustee.Accounting and Financial Services for the Creditors'Committee.Valuation of a Business in Bankruptcy Proceedings.Part Three: Investigation and Reports.Special Areas of Inquiry.Financial Reporting During Bankruptcy.Reporting Results of the Plan.Reporting on an Insolvent Company.Tax Awareness.Appendix: Statement of PositionStatutes Citations.Case Index.Name Index.Subject Index.