Accounting firm Crowe Horwath is responding to the wave of companies filing for Chapter 11 bankruptcy protection with a set of services to help them navigate the reorganization process.
The services, known as Fresh Start Accounting, help provide interim management, reorganization plans, recovery alternatives and exit strategies. Accounting and consulting services use fair value measurement and preferred accounting policies to sort out the balance sheet. Crowes tax services will help account appropriately for net operating losses, valuation allowances, reorganization value, and tax accounting and regulatory requirements. Valuation services assist management in identifying the necessary adjustments to convert assets and liabilities from historic balances to current fair values.
Clients will have access to a single point of contact at the firm. Crowes fresh start goal is to help companies deal with the pressures of filing for bankruptcy protection and ultimately emerge from the process successfully, said Mary Ann Travers, a partner in Crowes audit and financial advisory group.
For more information, visit www.crowehorwath.com/Crowe/ServicesProvided/FinancialAdvisory/FinancialAdvisoryFreshStartAccounting.cfm.
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