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Accounting Considerations of Companies Distressed. Specific Theory and Practices

Author

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  • Petrescu (Neacºu) Claudia-Maria

    (Valahia University of Targoviste)

Abstract

At some point in their history, most successful companies suffer a decline or stagnation of their performance. This causes anxiety at the organizational level, through continuous development of new companies in an environment with limited resources implies a slower growth or even stagnation and disappearance of the old company. Especially, must not overlook the fact that Romania's economy has been for over 20 years in a stage of continuous adaptation, determined to replace the centralized economy to market economy mechanisms. If until modern times the aim of bankruptcy procedure was to pay debtor’s liabilities due to the liquidation of available assets, at present, in Europe, legislation is no longer limited to measures to regulate the treatment of insolvency, but establishes procedures applicable to the debtor not insolvent yet.

Suggested Citation

  • Petrescu (Neacºu) Claudia-Maria, 2012. "Accounting Considerations of Companies Distressed. Specific Theory and Practices," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(2), pages 1292-1295, Decembre.
    • Handle: RePEc:ovi:oviste:v:xii:y:2012:i:2:p:1292-1295
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    More about this item

    Keywords

    Companies in difficulty; Insolvency; Judicial reorganization; Reorganization strategies; Liquidation.;
    All these keywords.

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

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