GOING CONCERN ACCOUNTING PRINCIPLES
All about accounting :- 12th blog *****ACCOUNTING***** Hi freinds 🙏., Today's discuss 7th accounting principles... So let's discuss... ★ GOING CONCERN :- The going concern concept is a fundamental principle of accounting. It assumes that during and beyond the next fiscal period a company will complete its current plans, use its existing assets and continue to meet its financial obligations. A going concern is a business that is assumed will meet its financial obligations when they fall due. ... Hence, a declaration of going concern means that the business has neither the intention nor the need to liquidate or to materially curtail the scale of its operations. A going concern is a business that has sufficient financial wherewithal and momentum to contin...