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-   -   How to know Going Concern (https://www.askmehelpdesk.com/showthread.php?t=291675)

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

    Are the bankruptcy of corporates not known?
  • Dec 13, 2008, 10:53 AM
    pready

    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.

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