Cherkessk, Russian Federation
student
Russian Federation
The bankruptcy of a company is a complex legal and economic situation that has far-reaching consequences for all parties involved. Bankruptcy accounting is a specialized field of accounting that deals with the financial and legal aspects of bankruptcy. Bankruptcy is a legal process that allows individuals or businesses to reorganize or liquidate their debts when they are unable to pay them. Bankruptcy accounting is important for several reasons: it helps to determine the financial position and solvency of the debtor, which affects the rights and obligations of creditors and other interested parties; it helps to identify and evaluate the assets and liabilities of the debtor, which are subject to various rules and procedures depending on the type and stage of bankruptcy. Special problems in the bankruptcy procedure: accounting in the bankruptcy process involves a number of problems; continuation of commercial activities; in some cases, the company may continue its activities even after the opening of bankruptcy proceedings. Accounting in this case should take into account both current transactions and transactions related to insolvency. Valuation of assets and debts: As part of the bankruptcy procedure, all assets and debts of the company must be carefully assessed. This can be difficult, especially when evaluating fixed assets or non-traditional financial instruments. Here are some examples of concepts and applications of accounting in bankruptcy: Competitive weight: This is a legal entity that is created when a debtor files for bankruptcy. It includes all the property and interests of the debtor that fall under the jurisdiction of the bankruptcy court.
regulatory regulation, bankruptcy, accounting, financial reporting, financial recovery, external management, accounts payable, liquidation balance sheet, chart of accounts
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