If your company is emerging from bankruptcy, give us a call. Your company may be required to apply fresh start accounting.
ASC 852 states that reorganizations require a fresh start to be applied if the company is balance sheet insolvent prior to emergence and a change in control occurs upon the’ court’s confirmation of the plan of reorganization.
Morris and Associates offers the experience and means to determine whether your company can qualify for a fresh start, and if so, ensures it complies with regulations afterward.
We can finalize fair value conclusions for all assets and liabilities, help with any tax or regulatory requirements that emerge from bankruptcy proceeds, and ensure you comply with SEC, IRS, and other regulatory requests.
We will also draft, update, and review new accounting policies and procedures for the new reporting entity.
Contact Morris and Associates today for a FREE consultation to review your next steps for fresh start accounting.