Bankruptcy Costs

Financial Distress
Financial distress refers to a situation in which the activity of a business is influenced by the possibility of impending insolvency. This state incurs various costs, ranging from those related to bankruptcy to costs arising from stakeholders' changes in behavior and managerial focus.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.