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What examples best describe the going concern concept?
what exmples best describe the going concern concept
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.
Is being a going concern a good or bad thing?
Being a going concern is generally considered a positive thing for a business. It means that the company is financially stable and able to continue operating in the foreseeable future.
What are the advantages in going with online brokerage?
There are several advantages in going with an online brokerage, beginning with the convenience. Other advantages are fast service and low prices because online brokers do not work for specific companies. Requests for a quote from an online brokerage are free of obligation and give multiple options to choose from.
Advantages and disadvantages of companies going global?
advantages: increased sales, higher profits, new knowledge and experience Disadvantages: language barrier, additional costs, changed mindset
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 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 examples best describe the going concern concept?
what exmples best describe the going concern concept
How is historical cost dependent on the going concern?
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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.
What are the advantages of societal marketing?
Better company reputation for showing concern in certain issues facing society.
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 This accounting concepts justifies the usage of accrual and deferrals?
Going concern
What are the advantages of going organic?
ewan ko
