Introduction to insolvency and business recovery

Insolvency is often regarded as a form of financial ill health that can be suffered in varying degrees by businesses and individuals. In certain cases, the ailment will become terminal. In others, the patient will recover. Where it becomes terminal, there is a framework for putting the body to rest or, in the case of an individual, allow them to 'restart' their lives debt free. There are also legal mechanisms available to assist recovery and rehabilitation.

In Australia, accountants in public practice who are registered as liquidators or trustees in bankruptcy are the only persons authorised to preside over such funerals or recuperative operations.

However, the public practitioner, together with the general accountant, is often called on by the client to assess or comment on solvency / insolvency and needs to be aware of the potential liabilities that may stem from insolvency. They may also be called upon to assist a business recover or turnaround its affairs without the use of a formal / legal framework.

This course will:

• Introduce you to the principles of insolvency
• Provide a brief outline of the various types of insolvency appointments
• Introduce the concepts associated with business turnaround
• Provide an overview of liquidity, the assessment of financial viability and remedial measures

Key topics

• Introduction to insolvency
• Diagnosing financial failure

This course consists of one interactive online course, a self-assessment at conclusion and one downloadable PDF learning manual.