Bankruptcy and insolvency accounting:2004 cumulative supplement
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With the rise in the number of mergers and acquisitions taking place in today's business environment, there will undoubtedly be a rise in the number of bankruptcies, as the cyclical nature of the economy indicates that the trend will reverse itself when overextended businesses begin to fail. Accountants and financial managers are often the first professionals to realize that a financial problem exists within a corporation and are in position to render extremely valuable services, but before they can offer advice to their clients, they must be thoroughly familiar with the various alternatives available to the client and the ramifications of each alternative. This completely updated edition describes the process of turning around a troubled business and restructuring the financial aspects of the business in an out of court setting and in bankruptcy.