| 单词 | going-concern concept |
| 释义 | going-concern concept A principle of accounting practice that assumes businesses to be going concerns, unless circumstances indicate otherwise. It assumes that an enterprise will continue in operation for the foreseeable future, i.e. that the accounts assume 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. The concept is assumed in the preparation of financial statements. If an auditor thinks otherwise the auditors' report should be qualified. |
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