This course provides students with a perspective on identifying and remedying turnaround business situations, that is, established businesses experiencing operational, financial and managerial difficulties. Students learn from the standpoint of a general manager how to distinguish between “troubled” and “crisis” companies and how to use qualitative and quantitative tools to effect solutions. The course integrates the functional disciplines of the core curriculum. Building upon a basic understanding of accounting and corporate finance, the course engages with these core restructuring concepts: cash flow and going concern projections; debt restructuring and liquidation analysis; creditor relationships, managerial and governance perspectives. Assignments are team-oriented projects culminating in a final team analysis of a turnaround situation.