Bankruptcy Accounting and Tax Considerations

Gain a better understanding of the impacts of bankruptcy on financial statements and taxation by attending this program.

A business emerging from chapter 11 as a going concern requires a new basis of accounting resulting in the adjustment of both the value of assets and the amount of liabilities. Failure to properly account for the reorganization will result in financial statements not being prepared in accordance with guidelines set forth in Accounting Standards Codification 852. Failure to anticipate and plan for tax impacts of debt cancellation can have unexpected and negative impacts on the reorganizing entity. This on-demand webinar will instruct professionals responsible for dealing with accounting and tax aspects of the bankruptcy filing and reorganization how to properly report reorganization items including income from debt discharge in the income and cash flow statements, and to reflect the value of the assets and liabilities in the balance sheet on emergence. Learn the requirements for adopting fresh start reporting, determination of gain from debt discharge, and how to anticipate and optimize potential tax consequences of gain from debt discharge.

Date and Time

Date: 2014-08-20
Time: -

Agenda

Faculty

Grant W. Newton, Association of Insolvency & Restructuring Advisors

Credits

CAC ,CPE ,Additional credit may be available upon request. Contact Lorman at 866-352-9540 for further information.

Click here for detailed credit information

Who should attend?

This live webinar is designed for accountants, CPAs, controllers, CFOs, tax managers, finance directors, accounts payable professionals and bookkeepers.

Bankruptcy Accounting and Tax Considerations

SKU: 394395EAU
Date: 2014-08-20
Time: -

Price: $219.00 USD