May 11, 2025 · Accountants use going concern principles to decide what types of reporting must be recorded on a company's financial statements. Companies that are going concerns may defer …

Jul 17, 2024 · The going concern concept of accounting implies that a business entity will continue its operations in the future and will not liquidate or be forced to discontinue operations due to any reason.

Under the going concern assumption, an entity is ordinarily viewed as continuing in business for the foreseeable future with neither the intention nor the necessity of liquidation, ceasing trading or …

Apr 23, 2025 · The going concern principle is the assumption that an entity will remain in business for the foreseeable future, which justifies the deferral of some expenses.

The going concern presumption that an entity will be able to meet its obligations when they become due is foundational to financial reporting. This presumption may be challenged at any time, but especially …

Jul 30, 2025 · The Going Concern concept is a fundamental accounting principle that assumes a business will continue its operations for the foreseeable future. It indicates that the company does …

The going concern concept is one of the fundamental accounting principles that shows that the accounting statements are organized so that the company cannot be bankrupt or liquidated for the …

Dec 14, 2024 · The going concern concept assumes that a business will remain operational and continue its activities for the foreseeable future. This principle underlies the preparation of financial …

Jun 8, 2023 · When a business is started, it is assumed that it will not be dissolved in the near future. The financial statements (i.e., profit and loss account and balance sheet) are also prepared under …

What is Going Concern? Going Concern is an accounting principle that assumes a business will continue to operate for the foreseeable future and will not be forced to liquidate or shut down.