Bankruptcy And Insolvency Accounting, 7Th Edition, Vol. 1

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.

Grant W. Newton, CPA, CIRA, CMA, is Professor of Accounting at the Graziadio School of Business and Management at Pepperdine University and is Executive Director of the Association of Insolvency and Restructuring Advisors. He is the author of Corporate Bankruptcy: Tools, Strategies, and Alternatives (2003) and Bankruptcy and Insolvency Taxation (2005), both from Wiley. His articles have appeared in a large number of professional periodicals. He received his PhD from New York University, Master's from the University of Alabama, and BS from the University of North Alabama.

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 Insolvency Proceedings.


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 or Trustee.


Other Financial Advisory Services for Debtors-in-Possession or Trustee.


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 Position


Statutes Citations.


Case Index.


Name Index.


Subject Index.