WebThe evaluation of the presumption should identify relevant conditions and events that, in aggregate, raise substantial doubt about the entity’s ability to continue as a going concern. When assessing future conditions, both quantitative and qualitative information need to be considered as of the date the financial statements are issued. WebApr 8, 2024 · Assessing liquidity and going concern in an uncertain economy. Publication date: 08 Apr 2024 (updated 27 Sep 2024) us In the loop. September 2024. What you need to know. Companies need to evaluate whether current economic conditions have affected their ability to continue as a going concern. Management should develop a …

The Concerns with Going Concern - The CPA Journal

Webgoing concern; (c) if there are conditions or events that raised substantial doubt about the entity’s ability to continue as a going concern, management’s plans to mitigate those matters; and (d) the adequacy of the related disclosures in the financial statements. (Ref: par. A112-.A114). WebJun 8, 2024 · Going concern value is also known as total value. This differs from the value that would be realized if its assets were liquidated —the liquidation value—because an … henry and tharja

What’s the impact on the going concern assessment and r - KPMG

Weba going concern basis is a binary decision, but the circumstances in which entities prepare financial statements on a going concern basis will vary widely. The circumstances could range from when an entity is profitable and has no liquidity concerns to when it is a ‘close call’ to prepare the financial statements http://kb.icai.org/pdfs/PDFFile5b3b56f75d65b6.04883715.pdf WebOct 7, 2024 · Going concern is an accounting term for a company that is financially stable enough to meet its obligations and continue its business for the foreseeable future. Certain expenses and assets may... henry and the bats