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White paper
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Accounting for bankruptcies
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October 04, 2023
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Most accountants hope to never have reason to consider the accounting guidance that applies to entities undergoing bankruptcy proceedings. Unfortunately, there are times when filing for bankruptcy becomes a necessity and may give entities the fresh start they need to continue to operate and grow in the future, unencumbered by significant debt or liabilities. Our white paper, Accounting for bankruptcies, will assist entities in preparing financial statements both during Chapter 11 reorganization proceedings and when applying fresh-start accounting upon emergence from bankruptcy.