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 …

As illustrated below, regardless of the outcome of management’s going concern assessment, the entity continues to apply the going concern basis of accounting in its financial statements unless and until …

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.

5 days ago · The going concern assumption is necessary for the consistent application of accounting standards such as revenue recognition and matching. Defining the Going Concern Principle The …

Oct 27, 2025 · The going concern principle is the assumption that a business will continue to operate for the foreseeable future, typically for at least the next 12 months. When your firm prepares or reviews …

The going concern assumption is a basic underlying assumption of accounting. For a company to be a going concern, it must be able to continue operating long enough to carry out its commitments, …

Dec 1, 2025 · Financial reporting under US GAAP assumes that a reporting entity will continue to operate as a going concern until its liquidation becomes imminent. This is commonly referred to as …

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 Principle is a fundamental accounting concept that assumes an organization will remain in business long enough to fulfill its commitments, use its assets, and meet its financial …

Jul 2, 2025 · A going concern means the company is expected to operate and meet financial obligations. Auditors evaluate liquidity, income, and management plans to affirm going concern status. Red flags...