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A going concern is an accounting term for a business that is assumed will meet its financial obligations when they become due. It functions without the threat of liquidation for the foreseeable future, which is usually regarded as at least the next 12 months or the specified accounting period (the longer of the two).
Going concern – value in continued use as an ongoing operating business enterprise. Assemblage of assets – value of assets in place but not used to conduct business operations. Orderly disposition – value of business assets in exchange, where the assets are to be disposed of individually and not used for business operations.
For pension plans, the solvency ratio is the ratio of pension plan assets to liabilities (the pensions to be paid). Another measure of the pension plan's ability to pay all pensions in perpetuity is the going concern ratio, which measures the cost of pensions if the pension plan continues to operate.
“The Company is preparing to commence going out of business (GOB) sales at all remaining Big Lots store locations in the coming days to protect the value of its estate,” Big Lots said in the ...
In accounting, goodwill is an intangible asset recognized when a firm is purchased as a going concern. It reflects the premium that the buyer pays in addition to the net value of its other assets. It reflects the premium that the buyer pays in addition to the net value of its other assets.
The IASB has refrained from giving quantitative guidance for the mathematical calculation of materiality. While ISA 320, paragraph A3, does provide for the use of benchmarks to calculate materiality, it does not suggest a particular benchmark or formula. [13]
Update: Big Lots says it reached a deal in late December to keep hundreds of U.S. stores open. Big Lots is preparing to close all of its stores, the bankrupt discount retailer said Thursday. The ...
Going concern: Financial statements are present on a going concern basis unless management either intends to liquidate the entity or to cease trading, or has no realistic alternative but to do so. [28]