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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).
An accounting information system (AIS) is a system of collecting, storing and processing financial and accounting data that are used by decision makers.An accounting information system is generally a computer-based method for tracking accounting activity in conjunction with information technology resources.
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.
Accounting standards prescribe in considerable detail what accruals must be made, how the financial statements are to be presented, and what additional disclosures are required. Some important elements that accounting standards cover include identifying the exact entity which is reporting, discussing any "going concern" questions, specifying ...
Caitlin Clark had a strong response to Megyn Kelly's criticism about her recent comments regarding white privilege in the WNBA. A day later, Clark spoke at the “A Year in Time” event in New ...
5. Meat. Don’t stay away from discounted meat. It’s as safe to eat as your normally priced versions— as long as the packaging is intact and the meat passes the sniff and touch test. You can ...
International Accounting Standard 10 Events after the Reporting Period or IAS 10 is an international financial reporting standard adopted by the International Accounting Standards Board (IASB). It contains requirements for when events between the end of the reporting period and the date on which the financial statements are authorised for issue ...
The Best Way To Wash Lettuce. The best way to wash lettuce is to use cool running water and gently scrub each leaf, says Edwards. “I prefer to fill a bowl with cold water and submerge lettuce ...