Going through a bankruptcy places high demands on an organization’s back office, with substantial reporting requirements and requests for information throughout the process as well as complex and non-routine accounting requirements.
Working as an extension of the management team, we guide you through the process, work seamlessly alongside other advisors and stakeholders to address questions, satisfy data requests, and prepare necessary bankruptcy accounting documentation and reporting.
Our bankruptcy accounting services span the end-to-end process from pre-filing and post-petition to emergence.
- Project management
- Technical accounting and financial reporting
- Post-bankruptcy payables process design
- Interim finance and accounting
- Internal controls
- Accounting for effects of restructuring
- Application of fresh start accounting
- Back office optimization
- Tax implications
- Bankruptcy advisory
Here’s five important accounting considerations for companies to keep in mind as they prepare to file for bankruptcy.
During the company’s restructuring, Riveron ran the accounting department, designed the future state function, and managed the cutover.
While many people believe that entering bankruptcy means the end of an organization, the opposite, in fact, can often be true. Under Chapter 11 of the US Bankruptcy Code, companies can eradicate debt, preserve their enterprise value, and gain a second chance at business viability.