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.
Keywords: insolvency, Grant Newton, Association of Insolvency and Restructuring Advisors, AIRA, SOP 90-7, reorganization items, reorganization value, fresh-start, fresh-start reporting, retention of financial advisor, valuation of a business in bankruptcy, CSSR 2003-01, valuation in bankruptcy, causes of business failure, Certified Insolvency and Restructuring Advisors, CIRA