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View Full Version : How to know Going Concern


N Srinivas Rao
Dec 13, 2008, 10:33 AM
Dear,
Can anyone help me to know "whether the company can be taken to be Going Concern?"

Are the bankruptcy of corporates not known?

pready
Dec 13, 2008, 10:53 AM
Going Concern is an assumption of U.S. Generally Accepted Accounting Principles (GAAP)

Going Concern means that a company will continue to operate indefinitely.

If a company goes Bankrupt, then it violates the Going Concern assumption.