The purpose and research status of basic issues in bankruptcy liquidation accounting

There are the following accounting problems in the bankruptcy liquidation of enterprises:1how to determine the authenticity and accuracy of the list of debts and assets; 2.

how to conduct asset valuation and disposal to maximize value; 3.how to deal with debt and creditor relationships and report to the relevant parties after liquidation; 4.how to resolve issues such as priority and disputed claims; 5.

how to account for the liquidation progress and related costs; The above is only a part of the accounting issues of enterprise bankruptcy liquidation, and the specific situation may be different due to the industry, enterprise regulations, etc.

Accounting elements are the basic classification of accounting objects and the concretization of accounting objects. Under the going concern, the Accounting Standards for Business Enterprises - Basic Standards specify that assets, liabilities, owners' equity, income, expenses and profits are the specific contents of accounting elements. However, in bankruptcy liquidation accounting, there is no consensus on what the accounting elements should include, and there are two representative views.

The accounting elements of bankruptcy liquidation should be composed of six elements: assets, liabilities, owners' equity, liquidation income, liquidation expenses, and liquidation profit and loss. The reason is that "liquidation is for the purpose of repaying debts, and assets and equity are the last resort for the bankrupt enterprise to repay its debts", so the three elements of "assets, liabilities, and owners' equity" should be retained. However, due to the fact that production and business activities have stopped, obtaining maximum profits is no longer the goal of various economic activities during the liquidation period, and the accounting of income, expenses and profits is no longer necessary, and the accounting basis has been lost.

At this time, the fundamental goal of liquidation activities is to maximize the proportion of creditors to be repaid, so liquidation income, liquidation expenses and liquidation gains and losses should become important objects of liquidation accounting. Another point of view is that the elements of liquidation accounting should be determined on the basis of the characteristics of the enterprise's liquidation economic business and the objectives of liquidation accounting, so the basic elements of liquidation accounting should be established as follows: liquidation assets, all assets owned by the liquidation enterprise to pay off debts; Liquidation debts, debts incurred by the liquidation enterprise that need to be repaid with liquidated assets; Liquidation of net equity, the actual right of the investors of the liquidation enterprise to claim the assets of the enterprise, which depends on the difference between the liquidation assets and the liquidation debts; Liquidation losses, the reduction of various net liquidation rights and interests of the enterprise due to the occurrence of liquidation business in the liquidation process; Liquidation gains, the increase in the net equity of various liquidations that occur in the liquidation process of the enterprise.

Reading through the full text, we can roughly understand that in accounting, the object of bankruptcy liquidation is mainly the capital movement of the bankrupt enterprise, and its accounting elements are the concrete manifestations of this capital movement embodied in specific items such as income, costs, and expenses. In the knowledge of the objects of bankruptcy liquidation, it is necessary to firmly grasp the scope and changes of such objects, and make accurate estimates and judgments based on specific laws.

1. Establish a liquidation group.

The court shall, within 15 days from the date of declaring the debtor enterprise bankrupt, set up a liquidation group to take over the bankrupt enterprise. The liquidation group shall be appointed by the court from among the competent departments of the company, relevant departments and professionals, and may also hire Chinese certified public accountants and lawyers to participate. The liquidation team is responsible for the safekeeping, liquidation, valuation, disposal and distribution of the damaged property.

The liquidation team shall be responsible to the people's court and report on its work, and accept the supervision of the court. China's Company Law stipulates that the liquidation group shall exercise the following functions and powers during the liquidation period:

1. Clean up the company's property, prepare the balance sheet and property list respectively;

2. Notify or announce creditors;

3. Deal with the unfinished business of the company related to liquidation;

4. Pay the tax arrears;

5. Liquidate creditor's rights and debts.

6. Deal with the remaining property of the company after paying off its debts;

7. Participate in civil litigation activities on behalf of the company.