Accounting and reporting when in reorganization under Bankruptcy Code
WHITE PAPER |
Due to the widespread and significant impact of the COVID-19 pandemic on businesses, the number of bankruptcy filings has risen significantly in 2020, and the effects of the pandemic could continue to be felt for years to come. That said, filing for bankruptcy may give entities the fresh start they need to continue to operate and grow in the future, unencumbered by significant debt or liabilities accumulated during the pandemic. Our white paper, Accounting and reporting when in reorganization under Bankruptcy Code, will assist entities in preparing financial statements both during Chapter 11 reorganization proceedings and when applying fresh-start accounting upon emergence from bankruptcy.