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Handbook: Accounting for bankruptcies

Handbooks | March 2024

Latest edition: Our in-depth guide provides interpretive guidance for before, during and after Chapter 11 bankruptcy.

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We address the key accounting and financial reporting issues facing companies moving through the various stages of Chapter 11 – with Q&As, examples, and interpretive guidance.


  • All companies contemplating Chapter 11 bankruptcy, in Chapter 11 bankruptcy, or emerging from Chapter 11 bankruptcy

Relevant dates

  • Effective immediately

Key impacts

Subtopic 852-10 provides specific accounting and financial statement presentation requirements for entities in Chapter 11 bankruptcy. These requirements bring their own challenges, and, in some cases, it may be difficult to understand how the guidance intersects with the broad US GAAP requirements that continue to apply to entities in Chapter 11 bankruptcy.

This handbook addresses some of the key accounting and presentation issues facing companies moving through the various stages of Chapter 11 bankruptcy: as they approach a bankruptcy filing, once they are in bankruptcy, and as they emerge from bankruptcy.

Report contents

  • Overview of bankruptcy
  • Before bankruptcy
  • During Chapter 11 bankruptcy
  • Emerging from Chapter 11 bankruptcy

Download the document:

Accounting for bankruptcies

Download PDF

Explore more

Webcast Replay Webcast Upcoming Listen Now

FRV podcast: Bankruptcy & Disc Ops

An overview discussion of the stages of Chapter 11 and potential discontinued operations.

Learn more June 24, 2020

Reference Library

In-depth analysis, examples and insights to give you an advantage in understanding the requirements and implications of financial reporting issues.


KPMG handbooks that include discussion and analysis of significant issues for professionals in financial reporting.

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David Yates
Partner, Dept. of Professional Practice, KPMG US

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