{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/852/10/#10-objectives","source":"FASB Accounting Standards Codification, Basic View","usage":"Study and research edition. Verify current requirements with the official source. Summaries, enrichment, and tags are machine-generated study aids. Paragraph html preserves source markup; snippet is abbreviated. Pending content is not necessarily effective.","topic":"852","topic_title":"Reorganizations","subtopic":"852-10","subtopic_title":"Overall","section":{"number":"10","label":"10 Objectives","anchor":"10-objectives","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"852-10-10-1","para":"10-1","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_EC8FAC9A-6E92-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Presenting an entity's financial evolution in its financial statements during a <a href=\"/glossary/c/#chapter-11\" class=\"term\" title=\"A reorganization action, either voluntarily or involuntarily initiated under the provisions of the Bankruptcy Code, that provides for a reorganization of the debt and equity structure of the business and allows the business to continue operations. A debtor may also file a plan of liquidation under Chapter 11.\"><span>Chapter 11</span></a> <a href=\"/glossary/r/#reorganization-proceeding\" class=\"term\" title=\"A Chapter 11 case from the time at which the petition is filed until the plan is confirmed.\"><span>reorganization proceeding</span></a> is an objective of the guidance in this Subtopic. </span></span></div></div>","snippet":"Presenting an entity's financial evolution in its financial statements during a Chapter 11 reorganization proceeding is an objective of the guidance in this Subtopic.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:110bed47ebbca5645e0b59dc23a2d44327665a3b81a83d35d6e6f0d9c4476a6c","downloaded_from":"2026-09-10T02:02:57.483Z","last_downloaded_at":"2026-09-10T02:02:57.483Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481156","source_sha256":"303bd2113f37fa49301451fa91ba5999243ead4064e0aab8d018da934b346aa6"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:aff8f7e6367f90347232a4194ebbdde9a090a8733fe812657c713b692710e1fa","downloaded_from":"2026-09-10T02:02:57.483Z","last_downloaded_at":"2026-09-10T02:02:57.483Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481156","source_sha256":"303bd2113f37fa49301451fa91ba5999243ead4064e0aab8d018da934b346aa6"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e2828a2048c3e189785e358a12d36ba37803ed7bf9034f9f7264f3ea9ea6e1fa","downloaded_from":"2026-09-10T02:02:57.483Z","last_downloaded_at":"2026-09-10T02:02:57.483Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481156","source_sha256":"303bd2113f37fa49301451fa91ba5999243ead4064e0aab8d018da934b346aa6"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e2828a2048c3e189785e358a12d36ba37803ed7bf9034f9f7264f3ea9ea6e1fa","downloaded_from":"2026-09-10T02:02:57.483Z","last_downloaded_at":"2026-09-10T02:02:57.483Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481156","source_sha256":"303bd2113f37fa49301451fa91ba5999243ead4064e0aab8d018da934b346aa6"}}