The role of accounting in corporate restructuring and turnaround strategies

The study investigates the role of accounting in corporate restructuring and turnaround strategies. Survey research design was adopted and used to carrying out the study and a sample size of 300. The data collected was analysed using 4point Likert. The result from the analysis confirms that accounting-based performance metrics are essential for evaluating corporate recovery efforts. It was also found that asset efficiency, financial leverage, operational sustainability, cost efficiency, revenue generation, and shareholder value are necessary for assessing restructuring success. Based on these findings, it is recommended that firms adopt a datadriven approach to post-restructuring performance evaluation, utilizing accounting metrics to track improvements in profitability, liquidity, and operational efficiency. Firms should also prioritize optimizing asset utilization and cash flow management to reduce reliance on external financing while enhancing financial stability. Additionally, firms must ensure that restructuring efforts lead to measurable cost reductions and revenue growth, reinforcing long-term sustainability. Regular financial reporting and transparency should be maintained to provide stakeholders with a clear assessment of postrestructuring performance, thereby enhancing investor confidence and strategic decision-making. Lastly, organizations should integrate shareholder value metrics into their performance evaluation processes to ensure that restructuring efforts ultimately contribute to long-term value creation and market competitiveness