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Distressed Debt Analysis: Strategies for Speculative Investors by Stephen Moyer

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CONCEPTUALOVERVIEW OFFINANCIAL DISTRESSAND THERESTRUCTURINGPROCESS

In the labyrinth sometimes referred to as Generally Accepted Accounting Principles or GAAP, it is easy to get lost in what happens when firms get into financial distress and how restructurings resolve the problem. The conceptual underpinnings of financial distress and the restructuring process are surprisingly simple. In this chapter, a conceptual framework for financial distress and restructurings is developed and explained so that when the accounting minutia of case studies is developed later on, it can be related to general principles more easily.

A SIMPLE MODEL OF THE FIRM ...

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