Bankruptcy and Insolvency Accounting, 2 Volume Set, 2004 Cumulative Supplement

Bankruptcy and Insolvency Accounting, 2 Volume Set, 2004 Cumulative Supplement

by Grant W. Newton

Paperback

$69.20 $80.00 Save 13% Current price is $69.2, Original price is $80. You Save 13%.

Overview

The 2004 Cumulative Supplement includes the following:

  • Revised bankruptcy forms.
  • Description of recent decisions by bankruptcy courts, bankruptcy appeals panels, district courts, circuit courts, and the Supreme Court dealing with bankruptcy and business restructurings.
  • Discussion of the impact of Chapter 11 on SEC reporting.

Product Details

ISBN-13: 9780471464723
Publisher: Wiley
Publication date: 02/20/2004
Pages: 256
Product dimensions: 6.32(w) x 9.12(h) x 0.66(d)

About the Author

GRANT W. NEWTON, Professor of Accounting at the Graziadio School of Business and Management at Pepperdine University, Malibu, California, is a coauthor with Gilbert D. Bloom, author of Bankruptcy and Insolvency Taxation, 2nd edition (1994; updated annually), also published by John Wiley & Sons. His articles have appeared in a large number of professional periodicals. A CIRA, CPA, and CMA, he received a Ph.D. degree from New York University, a master’s degree from the University of Alabama, and a B.S. degree from the University of North Alabama.
Dr. Newton was a member of the AICPA’s Task Force on Financial Reporting by Entities in Reorganization Under the Bankruptcy Code, which resulted in the issuance of AICPA Statement of Position 90-7. He has served as a consultant to national and regional CPA firms on bankruptcy and insolvency matters. He has spoken on the subjects of bankruptcy and insolvency accounting and management accounting to many professional groups, including AICPA, state societies of CPAs, American Bankruptcy Institute, Practising Law Institute, American Bar Association, California Bar, and Arizona Bar. He is a fellow and treasurer of the American College of Bankruptcy.

Table of Contents

Note to the Reader: Sections not in the main bound volumes are indicated by “(New)” after the title. Material new to or modified in this supplement is indicated by an asterisk (*) in the left margin in the contents and throughout the supplement.

Volume One: Practice and Procedure.

PART ONE: BANKRUPTCY AND INSOLVENCY ENVIRONMENT.

1 Accountant’s Role in Perspective.

Topical Overview.

§ 1.7 Alternatives Available to a Financially Troubled Business.

(e) Chapter 13—Adjustment of Debts of an Individual with Regular Income.

Professional Certification.

§ 1.18 Certified Insolvency and Restructuring Advisor (CIRA).

(b) Requirements for Certification.

2 Economic Causes of Business Failure.

Definition of Successful and Unsuccessful Business.

*§ 2.3 Business Failure Statistics.

Causes of Financial Difficulty.

*§ 2.5 Size of Business Failures.

*§ 2.11 Inside Underlying Causes.

(a) Overextension of Credit.

PART TWO: LEGAL ASPECTS OF BANKRUPTCY AND INSOLVENCY PROCEEDINGS.

5 Nature of Bankruptcy and Insolvency Proceedings.

Historical Origin.

*§ 5.4 Current Bankruptcy Statistics.

Provisions Common to All Proceedings.

§ 5.18 Bankruptcy Courts.

§ 5.21 Commencement of Cases.

(b) Involuntary.

§ 5.22 Filing and Quarterly Fees.

§ 5.26 Adequate Protection.

*§ 5.27 Automatic Stay.

§ 5.28 Use of the Estate’s Property.

§ 5.29 Executory Contracts and Leases.

*(a) Assumption and Assignment.

(b) Meaning of “Sixty-Day” Assumption.

(d) Lease Rejection.

(f) Employment Contracts.

(g) Rents Prior to Rejection of Lease.

§ 5.30 Utility Service.

*§ 5.31 Allowance of Claims or Interests.

(a) Secured Claims.

*§ 5.32 Expense of Administration.

(a) Critical Vendors (New).

§ 5.33 Priorities.

§ 5.34 Exemptions.

§ 5.36 Property of the Estate.

*(b) Pensions.

§ 5.38 Reclamation.

§ 5.39 Preferences.

(a) Insolvency.

(b) Determination.

(c) Insider Guarantee.

*(d) Exceptions.

§ 5.40 Fraudulent Transfers.

(c) Meaning of Transfer.

(d) Reasonable Equivalent Value.

§ 5.41 Postpetition Transfers.

§ 5.43 Setoffs.

Chapter 7 Liquidation.

§ 5.49 Liquidation of Assets.

6 Rehabilitation Proceedings under the Bankruptcy Code.

Operating under Chapter 11.

§ 6.6 Creditors’ and Equity Holders’ Committees.

(a) Creditors’ Committee.

§ 6.7 Appointment or Election of Trustee.

*§ 6.8 Appointment of Examiner.

§ 6.14 Obtaining Credit.

(c) Other Issues.

§ 6.15 Claims and Interests.

*(a) Application of OID to Debt Exchanges.

(c) Rejection of Collective Bargaining Agreements.

Developing the Plan.

§ 6.19 Classification of Claims.

§ 6.20 Claim Subordination.

(a) Contractual Subordination.

§ 6.20A Reclassification of Debt as Equity (New).

§ 6.21 Secured Claim Classification.

§ 6.23 Content of the Plan.

§ 6.24 Permissible Provisions.

*§ 6.25 Impairment of Claims.

*§ 6.26 Disclosure Statement.

Confirmation of the Plan.

§ 6.31 Best Interest of Creditors.

*§ 6.32 Priority Treatment.

§ 6.33 Feasibility.

§ 6.34 Cramdown.

*(a) Modification of Secured Claims.

(d) Value Exception.

Postconfirmation.

§ 6.36 Impact.

§ 6.39 Postconfirmation Recovery.

§ 6.42 Conversion to Chapter 7.

§ 6.42 Conversion to Chapter 7 or Dismissal.

7 Retention of the Accountant and Fees.

Retention of the Accountant.

§ 7.7 Affidavit of Proposed Accountant.

*(c) Indemnification (New).

Determination of Accountant’s Fees.

§ 7.20 Compensation Must Be Approved by the Court.

*§ 7.21 Factors to Consider When Estimating Fees.

Petition for Fee Allowance.

*§ 7.25 Court Discretion in Ruling on Fees.

PART THREE: AUDITING PROCEDURES AND REPORTS.

13 Financial Reporting during Bankruptcy.

Form and Substance of Financial Statements.

*§ 13.10A SEC Reporting in Chapter 11 (New).

(a) The Authoritative Documentation.

(b) Deferred or Permanent Relief.

(c) Who’s Done What?

(d) Other Observations.

(e) Conclusion.

14 Reporting Results of the Plan.

Chapter 11.

§ 14.3 Allocation of Reorganization Value.

(a) Asset Values.

(d) Net Operating Loss.

§ 14.5 Recording the Adoption of Fresh-Start Reporting.

§ 14.6 Deferred Taxes.

*15 Reporting on an Insolvent Company.

§ 15.1 Introduction.

Litigation Services.

§ 15.2 Application of Litigation Services to Bankruptcy.

§ 15.3 Disclosure Requirements.

§ 15.4 Operating Reports.

§ 15.6 Financial Projections.

Reporting on a Liquidation of the Debtor.

§ 15.26 Introduction.

16 Tax Awareness.

Notification of Proceedings and Filing of Returns.

§ 16.2 Notice to Governmental Agencies.

Administrative Aspects of Taxes.

§ 16.37 Tax Priorities.

*(a) Administrative Expenses.

(b) “Involuntary Gap” Claims.

(c) Prepetition Wages.

(e) Income and Gross Receipts Taxes.

(f) Property Taxes.

§ 16.45 Tax Procedures.

APPENDIX B: FEDERAL RULES OF BANKRUPTCY PROCEDURE.

Volume Two: Forms and Exhibits.

PART THREE: ACCOUNTING SERVICES.

6 Rehabilitation Proceedings under the Bankruptcy Code.

6.11 Plan of Reorganization: American Rice.

6.11A Plan of Liquidation (New).

PART FOUR: AUDITING PROCEDURES AND REPORTS.

14 Reporting Results of the Plan.

14.4 Note That Fresh-Start Reporting Does Not Apply: Medical Technology Systems, Inc.

14.5 Excerpts From Form 10-K Dealing with Goodwill and Restructuring for 90-7: eNucleus (New).

14.6 Note That Negative Goodwill Exists: Woodworkers Warehouse, Inc. (New).

15 Reporting on an Insolvent Company.

*15.7A Statement of Net Assests in Liquidation (New).

APPENDIX A OFFICIAL BANKRUPTCY FORMS.

SECTION INDEX.

CASE INDEX.

INDEX.

Customer Reviews

Most Helpful Customer Reviews

See All Customer Reviews