As a accountant deals with cash, that coming and coming out, the borrowed, the blamed, the owed and also the paid, it is not much of a stretch to understand that they also cope with insolvency. While we might know those who've declared bankruptcy or been in this place ourselves, a few still might not know just what it is.Bankruptcy is a legal procedure that's regulated by national laws and statutes and also copes with all the debts of an insolvent company or individual being liquidated after bei...