Bankruptcies and liquidations

Accounting guide

Our comprehensive accounting and financial reporting guide for bankruptcy and liquidation (ASC 852) focuses on Chapter 7 and 11 bankruptcy.

Download the guide Bankruptcies and liquidations

PwC is pleased to offer this accounting and financial reporting guide for Bankruptcies and liquidations (ASC 852). This edition of the guide furthers our aim of helping our clients and other interested parties to implement the accounting and reporting standards for bankruptcies and liquidations.

This guide provides an overview of the bankruptcy process and the significant accounting matters that an enterprise that is considering, or has filed for, bankruptcy could face. While the accounting guidance for an enterprise in bankruptcy has not changed significantly since its issuance in 1990, many practitioners do not frequently encounter bankruptcy and its related accounting issues. This guide is designed to assist those interested in a high-level understanding of the process and the key accounting considerations in the event that a bankruptcy filing becomes possible. The guide includes specific considerations for practitioners before, during, and after a bankruptcy proceeding, as well as a discussion about the liquidation basis of accounting. It should be used in combination with a thorough analysis of the relevant facts and circumstances and the authoritative accounting literature as well as appropriate professional and technical advice. We hope you find the information and insights in this guide useful. We will continue to share with you additional perspectives and interpretations as they develop.

iPad
  1. Click on the button below to open document:
    Bankruptcies and liquidations
  2. When the pdf opens, click anywhere on the guide and a menu will pop up at the top of the page with an option to “Open in iBooks” (top right). Click on this button.
  3. The guide will then be saved to your iBooks app for future access.

Sign up for our weekly news and alerts

Related content

Contact us

Cody Smith
Partner, National Professional Services Group
Email

Follow us
Issues Accounting and reporting Auditing Governance insights Regulations Tax Strategy and operations Cybersecurity Human resources Mergers & acquisitions Risk Management Sustainability Technology
Featured topics Business combinations Consolidation and equity method Fair value measurement Financial instruments and hedging Foreign currency IFRS in the US Income tax Insurance contracts Lease accounting Not-for-profit accounting Pension accounting Private company accounting Revenue recognition Stock compensation Year-end financial reporting
Publications Accounting guides EITF observer IFRS news In brief In depth In the loop M&A snapshot Private company reporter PwC comment letters PwC point of view SEC comment letter trends The quarter close Weekly newsletter
Webcasts, videos and podcasts Webcasts On-demand CPE Podcasts Videos
Standard setters AICPA CAQ COSO EITF FASB GASB IASB PCAOB SEC
Industries Asset management Automotive Banking and capital markets Communications Energy and mining Entertainment and media Financial services Health industries Industrial products Insurance Private equity Power and utilities Private company industries Public sector Retail and consumer Technology
About CFOdirect Newsletter signup Financial reporting blog Events Resources Contact us

© 2016 - 2017 PwC. All rights reserved. PwC refers to the US member firm or one of its subsidiaries or affiliates, and may sometimes refer to the PwC network. Each member firm is a separate legal entity. Please see www.pwc.com/structure for further details.