Johnson Manufacturing case study–bankruptcy

Natalie Tatiana Churyk, Yu, Shaokun (Carol), Guy M. Gross and Robert Stoettner

Journal of Accounting Education, 2015, vol. 33, issue 4, 309-316

Abstract: The Johnson Manufacturing (Johnson) case demonstrates the steps a firm must take when exiting Chapter 11 bankruptcy, including the determination of the applicability of ‘fresh-start’ accounting. To complete the case, adjustments are required to the asset, liability, and equity accounts in accordance with the post-reorganization balance sheet date. The case also requires students to demonstrate an awareness and understanding of the authoritative guidance related to bankruptcy accounting under US GAAP and to recognize fresh-start accounting adjustments required under International Financial Reporting Standards (IFRS).

Keywords: Bankruptcy; Fresh-start accounting; Chapter 11; ASC 852 (search for similar items in EconPapers)
Date: 2015
References: View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0748575115000676
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:joaced:v:33:y:2015:i:4:p:309-316

DOI: 10.1016/j.jaccedu.2015.10.001

Access Statistics for this article

Journal of Accounting Education is currently edited by Natalie Tatiana Churyk

More articles in Journal of Accounting Education from Elsevier
Bibliographic data for series maintained by Catherine Liu ().