Accounting for Municipal Bankruptcies
This article deals with accounting practices for municipal bankruptcies in the U.S. It explores the application of generally accepted accounting principles (GAAP) established by the Governmental Accounting Standards Board (GASB) in municipal bankruptcies. It also discusses the authority of a bankruptcy court to approve a petition for adjustment by a municipal government. In addition, the article covers the accounting for capital leases, pensions and other postretirement benefits involve in municipal bankruptcies.
School of Accountancy
Ewer, Sid R., and John R. Williams. "Accounting for Municipal Bankruptcies." The CPA Journal 80, no. 12 (2010): 34-36.