Effective Corporate Turnarounds

Rescue a struggling organization through a disciplined turnaround strategy. This course explains each phase of the turnaround process and details dozens of concrete actions that restore profitability, improve cash flow, and stabilize operations. Navigate critical legal considerations, including secured creditor rights, employee notification rules, and bankruptcy procedures. Develop a structured action plan that addresses financial, operational, and legal risks, and lead a failing business toward sustainable recovery and renewed enterprise value.
Format

PDF Course

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Duration

4 Hours

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Course Information

Author: Steven Bragg
Course Number: BM1014

Table of Contents
Chapter 1. The Basic Stages of a Turnaround
Chapter 2. Turnaround Actions
Chapter 3. Security Interests and Collection Options
Chapter 4. Turnaround Legal Considerations
Chapter 5. The Bankruptcy Option

Learning Objectives
  • Identify the reasons why a deliberate turnaround effort is needed.
  • Recall the components of the cash conversion cycle.
  • Specify the reasons why a lender might grant a loan forbearance.
  • Identify the options for accelerating cash flows into a business.
  • Recall how a mechanic’s lien works.
  • Specify how a surety arrangement works.
  • Identify the circumstances under which a lender can seize the property of a borrower.
  • Recall the conditions for creating a security interest in a borrower’s personal property.
  • Specify the priority of claims in a credit arrangement.
  • Recall the requirements of the Worker Adjustment and Retraining Notification Act.
  • Recognize the legal underpinnings of creditor actions to seize debtor assets.
  • Specify how a lien is used and what happens when an asset is sold that has a lien attached to it.
  • Specify the best point in time at which to file for bankruptcy protection.
  • Identify the debt adjustments usually made as the result of a workout arrangement.
  • State the circumstances under which an involuntary bankruptcy petition can be filed.
  • Describe the group represented by a creditors’ committee.
  • Specify the contents of a bankruptcy plan.
  • Specify the various ways in which a court can oversee the activities of a debtor under bankruptcy protection.
  • Recognize the priorities for the payment of administrative expenses.

Level: Overview
Instructional Method: QAS Self-Study
NASBA Category: Business Management & Organization
Prerequisites: None
Advance Preparation: None
Latest Review Date: August 2024
Program Registration Requirements: Click on the Enroll to pay for and access the course. You will then be able to download the course as a PDF file, then take an on-line examination, and then download a certificate of completion if you pass the examination.
Program Refund Policy: For more information regarding administrative policies concerning complaints, refunds, and other matters, see our policies page.

AccountingTools, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have the final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.
The NASBA sponsor identification number for Accountingtools, Inc. is 115881.

AccountingTools is an IRS Approved Continuing Education Provider. We are compliant with the requirements for continuing education providers (as described in sections 10.6 and 10.9 of the Department of Treasury’s Circular No. 230 and in other IRS guidance, forms, and instructions). Our IRS Approved Continuing Education Provider number is 72821.