The role and importance of information bankruptcy

Abstract

Bankruptcyof theleadingaccountingtonot releasethe bankruptfrom thecontinuation of theproceedingsat the time ofthe executive.

Bankruptcy and Restructuring Lawindicatesthe important role ofaccountinginformation createdin the processof bankruptcy.Alreadyat the stage ofsubmission of the applicationfor a declarationof bankruptcyneed to be developedon the basis ofdata generatedin theaccountingof materials,reports and otherinformation.

Minimizinglosses resulting frombankruptcyis not possible withouta credible, reliable informationaboutthe financial position ofthe company.This requires thepreparation ofan appropriateknowledge baseforthose involved inthe process. The range also includes the financial statements. From the moment of risk of bankruptcy until the end of the bankruptcy proceedings company manager responsible for their preparation, proper use and timely submission to the court.

Data fromaccountingis the mainsource ofinformation to enablethe smooth running ofthe process ofbankruptcycompanies.