Expand
Resize
Add to favorites
A foreign reporting entity that prepares financial statements under US GAAP will have to use judgment in determining whether to apply ASC 852-10 to its financial statements if the bankruptcy petition was filed in a country other than the United States. Because each country has its own bankruptcy laws, there may be significant differences in the proceedings that would necessitate different accounting treatments and financial reporting considerations. However, a foreign reporting entity filing bankruptcy under its local judicial proceedings should consider following the guidance in ASC 852 when those judicial proceedings are similar to Chapter 11 in the US.
Expand

Welcome to Viewpoint, the new platform that replaces Inform. Once you have viewed this piece of content, to ensure you can access the content most relevant to you, please confirm your territory.

Your session has expired

Please use the button below to sign in again.
If this problem persists please contact support.

signin option menu option suggested option contentmouse option displaycontent option contentpage option relatedlink option prevandafter option trending option searchicon option search option feedback option end slide