Fresh-Start Accounting Services


Fresh-Start Accounting Services

Deloitte CRG

Deloitte CRG and professionals from across Deloitte are leaders in helping companies implement Fresh-Start accounting. Our team is “on the ground” with our clients bringing specialists in bankruptcy, accounting and valuation, IT, and Tax. Deloitte’s professionals have significant experience managing this event in some of the largest corporate bankruptcies in US history. From planning to systems readiness, to implementation and validation, Deloitte can help companies from start to “Fresh-Start”.

Implementing the plan of reorganization and revaluing your business

Recording the emergence from bankruptcy is one of the most complex and demanding accounting challenges an organization may face. It places significant demands on an organization’s management team to deal with the equivalent of a year-end close upon emergence, account for restructuring of legal entities, adopt the requirements of ASC 852 (formerly SOP 90-7), and establish the opening balance sheet of the successor organization.

Understanding the bankruptcy process and the related technical accounting requirements, obtaining a valuation of all the assets and liabilities of a business enterprise, and pushing the results down to every legal entity can be an enormous burden on financial, operational, and systems management and their supporting teams. Completing the process as quickly as possible will allow management to move forward and focus on the operations of the newly reorganized business.


How we can help

The Fresh-Start process necessitates two significant accounting events:

1. Recording the effects of a Plan of Reorganization

2. The revaluation of both assets and liabilities for debtors and non-debtors alike

These events are also typically coupled with a significant amount of merger and restructuring activity. Each event must be completed in accordance with accounting requirements.

Learn more about our Fresh-Start Accounting Services in the PDF available for download, including:

  • How we can help
  • The planning phase
  • The implementation phase
  • How to contact us for more information
Fresh-Start: Implementing the plan of reorganization and revaluing your business

As used in this document, “Deloitte Advisory” means Deloitte & Touche LLP, which provides audit and enterprise risk services; Deloitte Financial Advisory Services LLP, which provides forensic, dispute, and other consulting services; and its affiliate, Deloitte Transactions and Business Analytics LLP, which provides a wide range of advisory and analytics services. Deloitte Transactions and Business Analytics LLP is not a certified public accounting firm. These entities are separate subsidiaries of Deloitte LLP. Please see for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.