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Examples of going concern include a business that has consistently generated profits and positive cash flow, indicating its ability to continue operations for the foreseeable future. Another example is a company with stable customer contracts and a solid market position, which suggests long-term viability. Additionally, a firm that has secured financing for future projects demonstrates confidence in its ongoing operations.
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What is going-concern Assumption?
Going concern is the assumption that the company will be around for the foreseeable future. If an auditor has a going concern issue, he/she may fear that the company will go bankrupt, etc.
What are the advantages of the going concern concept?
A going concern is a business that operates without the threat of liquidation. The advantages of going concern are that the business declares the intention of running for at least 12 months.
What is This accounting concepts justifies the usage of accrual and deferrals?
Going concern
Why are assets recorded at cost price and not current values?
Cuz of 'going concern' principle...
What is going concern concept principle?
is a concept which shows that a bussiness is continue in its operation even if it is not .
What examples best describe the going concern concept?
what exmples best describe the going concern concept
What is going-concern Assumption?
Going concern is the assumption that the company will be around for the foreseeable future. If an auditor has a going concern issue, he/she may fear that the company will go bankrupt, etc.
What are the advantages of the going concern concept?
A going concern is a business that operates without the threat of liquidation. The advantages of going concern are that the business declares the intention of running for at least 12 months.
What are the advantages of going concern?
adventage going to a concert
What is the going concern assumption?
In accounting, "going concern" refers to a company's ability to continue functioning as a business entity. It is the responsibility of the directors to assess whether the going concern assumption is appropriate when preparing the financial statements. Financial statements are prepared on the assumption that the entity is a going concern, meaning it will continue in operation for the foreseeable future and will be able to realize assets and discharge liabilities in the normal course of operations.
How is historical cost dependent on the going concern?
ok
What ratios are critical in determining going concern?
liquidity ratio's
What are the ratings and certificates for Lovejoy - 1986 A Going Concern 5-3?
Lovejoy - 1986 A Going Concern 5-3 is rated/received certificates of: UK:PG (video rating) (2004)
Was there a concern for going green in the industrial revolution?
there was no concern for "going green" because businesses were more worried about making a profit than the environment. Also, there was no such knowledge of the ozone layer or the greenhouse effect.
Why is the going concern assumption an important consideration in understanding financial statement?
According to Going Concern Assumption it is assumed that the said business will continue in the foreseeable future and will not liquidate in future, This assumption ensures the faith of investors, potential investors, and all the stakeholders in the business. Thus the Financial Statement is prepared on the basis of Going Concern Assumption.
What is least likely to contribute to going concern value?
The least likely factors to contribute to going concern value include non-operational assets, such as excess real estate or obsolete inventory, which do not generate income. Additionally, liabilities that exceed the assets or indicate financial distress can negatively impact going concern value. Moreover, intangible factors, such as poor management reputation or negative market perception, can also detract from the overall valuation of a business as a going concern.
What is This accounting concepts justifies the usage of accrual and deferrals?
Going concern
