FASB Proposes New Guidance On Liquidation Basis of Accounting

The Accounting Policy & Practice Report ® provides financial accounting policy makers, advisors, and practitioners with the latest news, expert insights, and guidance on emerging, evolving,...

NORWALK, Conn.—The Financial Accounting Standards Board is seeking comments by Oct. 1 on new accounting and disclosure requirements that would be relevant to entities that may have filed petitions with the bankruptcy court and expect to liquidate under Chapter 7 of the bankruptcy code, according to a July 2 proposal issued by the board.

Try Accounting Policy Practice Report