| 单词 | going-concern concept |
| 释义 | going-concern concept going-concern concept A fundamental accounting concept recognized in the Financial Reporting Standard Applicable in the UK and Republic of Ireland. It is the assumption that an enterprise will continue in operation for the foreseeable future, i.e. that there is no intention or necessity to liquidate or significantly curtail the scale of the enterprise’s operation. The implication of this principle is that assets are shown at cost, or at cost less depreciation, and not at their break-up values; it also assumes that liabilities applicable only on liquidation are not shown. The going-concern value of a business is higher than the value that would be achieved by disposing of its individual assets, since it is assumed that the business has a continuing potential to earn profits. This assumption will underlie the preparation of financial statements. If an auditor thinks that a business may not be a going concern, the auditors’ report should be qualified. Users of financial statements may assume that the going-concern concept has been applied unless there is clear warning to the contrary. |
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