GLG Topic: Bankruptcy Accounting
Bankruptcy is the state in which an entity is unable to pay its creditors, forcing a legal process to resolve payment of debts. There are six types of bankruptcy, with Chapters 7, 11, and 13 the most common. Chapter 7 bankruptcy is the basic liquidation of an individual's or entity's assets. Chapter 11 bankruptcy is the reorganization primarily of business debtors. Chapter 13 bankruptcy entails the rehabilitation and payment plan for individuals.
Leading Experts: Bankruptcy Accounting
Grant Newton, CPAExecutive Director
ASSOCIATION OF INSOLVENCY RESTRUCTING
Grant W. Newton is Executive Director at Association of Insolvency and Restructuring Advisors (AIRA), a professional association, where he has worked since October 1990. Mr. Newton is a Professor Emeritus of Accounting at Pepperdine University in Malibu, California. His areas of expertise include financial...
Gary SchneiderCEO
Jehle Energy Group, LLCGary Schneider is the Chief Executive Officer at Jehle Energy Group, LLc, a closely-held oil and gas leasing and production firm. Previously, he was a Partner of Ernst & Young, LLP....
Rohan AbrahamClient Service Director
Grant Thornton India
Rohan Abraham is a Client Service Director – Business Risk Services at Grant Thornton, India. He specializes in areas of business process risk consulting, internal audits, SoX 404, Clause 49 and SAS 70. Previously Mr. Abraham has worked with Arthur Andersen and Ernst & Young. He spent over a year assisting...
- Richard Barker
Finance Director
Spetisbury (Construction) LtdRichard Barker is the Finance Director of Spetisbury Construction Ltd, a UK-based construction contractor, where he is responsible for ensuring compliance and implementation of applicable UK GAAP. He has over 20 years of accounting experience, and has led investigations and due diligence exercises,...
Raghavachari NambiSenior Partner
RSN & Associates, Chartered AccountantsRaghavachari Nambi is a Senior Partner at R S N & Associates, an India-based accounting firm and also the Proprietor of Tejasve Exports, family concern specialising in third country imports/exports in textiles, steel, agri products, cement, rice , sugar etc . In addition to this, Mr. Nambi is a consultant...
Study Groups: Bankruptcy Accounting(?)
| Study Group Name | No. Members |
|---|---|
| Bankruptcy Accounting Specialists (US) | 58 |
| Bankruptcy Tax Specialists | 11 |
| China GAAP Specialists | 236 |
| Personal Tax Specialists | 61 |
| Sales, Use, and Property Tax Specialists | 27 |
GLG NewsSM Analysis: Bankruptcy Accounting(?)
Opinions and analyses expressed in GLG News are solely those of the author. See the Terms of Use for details.
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May 7, 2009
GM Bankruptcy Probable as Obama Favors UAW Against Bondholders | www.bloomberg.com
The Chrysler example has shown that bondholders have little chance to gain anything in bankruptcy. GM bondholders would do well to learn from the Chrysler bondholder's experience. Bankruptcy (CH 11) is Washington's prescription for fixing the auto companies' aliments, without...
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Dealers Will Drag Out Chrysler's Bankruptcy
May 11, 2009
Obama Expects Any Chrysler Bankruptcy to Be ‘Quick’ | www.bloomberg.com
President Obama may want Chrysler's bankruptcy to be quick, but terminated dealers can drag out the process in their quest for bankruptcy money. Even a quick bankruptcy can't solve Chrysler's underlying problem: it produces mediocre cars.
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Forensic Accounting - Fraud - A Perspective
May 18, 2009
Nitish Grover, FCA, AICPA Intl Associate, Principal, Owner, Nitish Grover and Associates
In House Fraud Cases Surge | www.ft.com
The referred article speaks of the increased levels of fraud by insiders in organizations across countries - especially those that are hit by recession. In this analysis I take a look at how this will impact forensic accounting and indepth audits. The role of the accountant and auditor will gain emphasis...
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Is Liquidity Accounting the Future?
May 5, 2009
CFO's on IFRS: Forget About It | www.cfo.com
Current accounting standards are confusing and hard to understand by the average reader of financial statements. They don't present a picture of liquidity or an analysis of of cash needs and uses. Good businesses fail principally because they run out of cash, yet the traditional statement...
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Impact of GM Bankruptcy & Disfranchisng Various Dealerships
June 11, 2009
G.M. to Seek Bankruptcy and a New Start | www.nytimes.com
Reorganization of the 'Old GM' after Bankruptcy into the 'New GM'. GM method of selecting various Dealerships to issue notice of disfranchising over the next 18 months (possibly 2,600+ existing GM Dealerships). Number of potential Dealership job loss due to being disfranchised by GM.
GLG Live Meetings Bankruptcy Accounting(?)
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May 19, 2009 | San Francisco
GLG Seminar: (SF) Securities Accounting and Valuation Changes -
May 22, 2009 | Hong Kong
GLG Seminar: (Hong Kong) China CFO Panel Q&A: Guide to Bear Market Earnings Calls -
June 25, 2009 | New York
GLG Seminar: (NYC) Understanding PBGC's Role in Bankruptcies -
June 17, 2009 | New York
GLG Seminar: (NYC) Tax Issues Related to Distressed Investments -
June 10, 2009 | Boston
GLG Seminar: (BOS) Current Activity in the Theme Park Industry
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