This book offers a global perspective and understanding on how to handle debt, manage finances efficiently and avoid bankruptcy both in business and at a personal level. After the trauma of the recent global financial crisis and the phenomenally higher rates of bankruptcy than there were in previous generations, this book is timely. It is believed that the rise in the level of bankruptcy is partly as a result of the escalating debt problems caused by easy availability of credit before the global financial crisis and the change in generational attitudes towards debt as well as partly due to poor financial management and general financial illiteracy. The contributors to this book come from academic backgrounds within the UK, South America and Europe who have worked and researched for many years on the issues presented in this book. The book utilizes both quantitative and qualitative methodologies and presents findings from rich, developed nations as well as poor, developing nations which examine global issues, perspectives and challenges of bankruptcy. Thus, the book provides both conceptual and empirical arguments. The book provides an invaluable contribution and insight into debt and bankruptcy, the bankruptcy process, debt management and the prediction of signs of business failure. It does this by using the latest research and leading-edge thinking both nationally and globally to explain the issues comprehensively and concisely, achieving a good balance between conceptual and practical perspectives. In this respect, the book offers the reader an opportunity (through a combination of chapters) not only to acquire knowledge of bankruptcy and the bankrupt both quantitative and qualitative methodologies and presents findings from rich, developed nations as well as poor, developing nations which examine global issues, perspectives and challenges of bankruptcy. Thus, the book provides both conceptual and empirical arguments. The book provides an invaluable contribution and insight into debt and bankruptcy, the bankruptcy process, debt management and the prediction of signs of business failure. It does this by using the latest research and leading-edge thinking both nationally and globally to explain the issues comprehensively and concisely, achieving a good balance between conceptual and practical perspectives. In this respect, the book offers the reader an opportunity (through a combination of chapters) not only to acquire knowledge of bankruptcy and the bankruptcy process, but also the awareness of actions to take when faced with debt and bankruptcy.
Preface - A Dialogue Between Debt & Bankruptcy; Introduction: Understanding Bankruptcy; Determinants of Small Business Failure; The Prediction of Firm Failure: Estimating Firms Indebtedness & Probability of Default; Assessing the Risk of Bankruptcy: A Case Study of a European Manufacturing Company; Assessing the Risk of Bankruptcy for Large European Companies during the Period of 2006-2015; Analytical Procedures in an Auditors Assessment of the Going Concern Assumption for Unstable Companies: Empirical Evidence; The Auditor's Assessment of Going Concern as an Integral Part of a Financial Statement Audit; Financially Distressed Firms Investment Decisions in Developing Countries: The Case of Mexico; The Impact of International Financial Reporting Standards Adoption on Earnings Management: Evidence from EU Countries; Access to Credit as a Tool for Overcoming SME Failures: A Case of Sub Saharan Africa; Understanding the Bankruptcy Process by the Black & Minority Ethnic (BME) Entrepreneurs in London; The Influence of Culture & Religion on the Attitude of Ethnic Minorities (BMEs) Towards Debt & Bankruptcy; African Entrepreneurs & Their Attitudes Towards Support & Advice on Debt & Bankruptcy; From Bankruptcy to Restart among Black & Minority Ethnic (BME) Entrepreneurs in London; Index.
