# ASC 852-10-10: Reorganizations — Overall — 10 Objectives

Source: FASB Accounting Standards Codification, Basic View

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## ASC 852-10-10: 10 Objectives

[Read section](https://asc.understandingaccounting.org/asc/852/10/#10-objectives)

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##### [852-10-10-1](https://asc.understandingaccounting.org/asc/852/10/#852-10-10-1)

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Presenting an entity's financial evolution in its financial statements during a [Chapter 11](https://asc.understandingaccounting.org/glossary/c/#chapter-11 "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.") [reorganization proceeding](https://asc.understandingaccounting.org/glossary/r/#reorganization-proceeding "A Chapter 11 case from the time at which the petition is filed until the plan is confirmed.") is an objective of the guidance in this Subtopic.