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Johnson Manufacturing case study–bankruptcy

Author

Listed:
  • Churyk, Natalie Tatiana
  • Yu, Shaokun (Carol)
  • Gross, Guy M.
  • Stoettner, Robert

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).

Suggested Citation

  • Churyk, Natalie Tatiana & Yu, Shaokun (Carol) & Gross, Guy M. & Stoettner, Robert, 2015. "Johnson Manufacturing case study–bankruptcy," Journal of Accounting Education, Elsevier, vol. 33(4), pages 309-316.
    • Handle: RePEc:eee:joaced:v:33:y:2015:i:4:p:309-316
    DOI: 10.1016/j.jaccedu.2015.10.001
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    Cited by:

    1. Hedi Baazaoui, 2020. "For A New Method Of Calculating The Disclosure Index," Copernican Journal of Finance & Accounting, Uniwersytet Mikolaja Kopernika, vol. 9(2), pages 9-24.
    2. Stuebs, Martin & Bryant, Scott M. & Edison, Cari & Reese, Kate, 2017. "Brittney’s Boutique: Tailoring a budget for function as well as fashion," Journal of Accounting Education, Elsevier, vol. 39(C), pages 32-47.

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