ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
From the web's #1 provider of financial analysis / ratio analysis
EITF see EMERGING ISSUES TASK FORCE.
Learn new Accounting Terms
FRESH START ACCOUNTING, upon emergence from bankruptcy, the consolidated financial statements of the "Successor Company" apply the provisions of fresh start accounting in accordance with Generally Accepted Accounting Principles (GAAP). Under fresh start accounting, a new reporting entity, the 'Successor Company', is deemed to be created, and the recorded amounts of assets and liabilities are adjusted to reflect their fair value. As a result, the reported historical financial statements of the 'Predecessor Company' generally are not comparable to those of the "Successor Company".
A is the fifth letter of a Nasdaq stock symbol that specifies Class A shares.