Development of Restructuring and Reorganisation Concepts
level of course unit
second cycle, Master
Learning outcomes of course unit
Upon successful completion of the course, students are able to combine the essential parts of a restructuring plan under IDW S6 and to identify and put together the success factors for the lasting success of a reorganization plan.
prerequisites and co-requisites
The IDW S6 offers, beyond the profession of auditors, a recognized canon of requirements for the establishment and evaluation of rehabilitation concepts. Its intention, essential elements and implication are presented and the process of creating a restructuring plan is studied in depth.
Focus is on the evaluation of a reorganization by answering the questions whether it is possible to continue and reorganize a company. It is made clear that in the context of a reorganization, the compulsory part is to ensure liquidity and the freestyle is to re-establish competitiveness and profit ability. In this connection, the generic steps " analysis", " conceptualization " and " implementation " are followed . As part of the analysis, techniques are presented to understand the company's situation in the crisis and to create transparency. Against the backdrop of a looming bankruptcy it is made clear how to stabilize the liquidity situation at short notice. The central instrument in this context is the direct short-term liquidity forecast.
Centerpiece of a reorganization are restructuring measures which are conceptualized by various corporate functions and whose revenue and liquidity effects are to be mapped in an integrated business planning ( income statement , balance sheet, cash flow). In addition to the measures by which potential along the entire value chain can be used, substantial technical and process-oriented aspects of business planning are discussed.
It becomes clear that reorganization projects are characterized by a high focus on implementation. A sustainable implementation requires appropriate controlling structures. Students have to get familiar with the adequate structures and understand how to successfully control a lasting reorganization.
recommended or required reading
Osann Mathias & Wortmann André (2013) Der "neue" IDW S 6, eine kritische Würdigung aus der Sicht eines Gutachters. In: Exler, Markus (Hrsg.) Restrukturierungs- und Turnaround-Management, S.379-392, Berlin, Brühl, R. (2012). Controlling. Grundlagen des Erfolgscontrollings, München Evertz, D. & Krystek, U. (Hrsg.) (2010). Restrukturierung und Sanierung von Unternehmen, Stuttgart Institut der Wirtschaftsprüfer in Deutschland e.V. (2012). IDW ES 6 n.F., Anforderungen an die Erstellung von Sanierungskonzepten. Download: http://www.idw.de/idw/portal/d302226 Krystek, U. & Klein, J. (2010): Erstellung von Sanierungskonzepten (Teil 1): Kritische Würdigung bestehender Standards, speziell IDW S 6, in: Der Betrieb, 63. Jg., Heft 33, 2010, S. 1769-1775
assessment methods and criteria
written examination or homework
language of instruction
number of ECTS credits allocated
planned learning activities and teaching methods
Lecture, group work, presentation and task discussion
semester/trimester when the course unit is delivered
name of lecturer(s)
Mag. (FH) Michael Strauß, MSc
year of study
2.year of studies
recommended optional program components
course unit code
type of course unit
compulsory (integrated lecture)
mode of delivery