Going concern articles. And I Brought a Special Guest.

Going concern articles Jan 14, 2025 · Evaluating a company’s going concern status is essential in financial audits, as it determines whether an entity can continue its operations for the foreseeable future. Liz Branch, COO, Going Concern will be your sponsored content contact and we will work together to create something awesome. If you can obtain additional funding for 1. Johnston said, but declined to provide specifics on pay. However, in these uncertain times, evaluating plans and actions regarding the possibility of becoming a going concern or having to address considerations related to going concern is more relevant. The assessment of a company’s going-concern status is a critical aspect of financial analysis and decision-making (Kaczmarczyk, Citation 2018). via r/Big4 If it backfires so what, they were going to lay you off anyway. 4. Jan 13, 2016 · The going concern assumption is fundamental in accepting the carrying amounts contained in the financial statements. Seems like this industry is in a death spiral. Jan 9, 2025 · This article explores some considerations for the going concern assessment of such distressed entities. En comptabilité (et en matière de valorisation), il est généralement fait l'hypothèse à long terme que l'entreprise ne sera pas liquidée mais continuera son activité actuelle. K. The salary equation is delicately danced around: The company is offering higher salaries to candidates for certain positions and turning to temporary workers such as interns, Ms. International Journal of Development and Sustainability Vol. Recurring operating losses, for example, erode a company’s capital base and hinder its ability to meet obligations. Since there are authors from the U. We calculated the average raise percentage for each step up in rank or promotion where data was available (i. Incredible what a slight adjustment can do (See also: page 19 of the Deutsche Bank report “Financial Transparency” – bwhahaha). RESEARCH ARTICLE Identification of factors for developing going concern prediction models Paul Hammond1, Mustapha Osman Opoku2 and Paul Adjei Kwakwa1* Abstract: The study aimed to identify factors that can be used in models that predict going concern of enterprises. 3 percent and 5. Asas kelangsungan usaha atau going concern diatur dalam Undang-Undang Nomor 37 Tahun 2024 mengenai Kepailitan dengan implementasi yang spesifik. CBRE agents Duncan McCulloch and James Beer are selling the freehold and the business of the 4 Banksia Street property via expressions of interest. Aug 7, 2024 · Going Concern report ensures the Investor’s confidence in the company, provides an early warning signal about potential financial difficulties, ensures compliance with regulatory standards, and helps manage risks. 75%decrease; red down pointing triangle warned investors of a going concern to maintain enough assets to operate and pay its debts, and said it has initiated a strategic review of May 7, 2024 · This article will describe some key features of going concern, alongside some instances when it may be relevant to your business. Going Concern Standards For many years the going concern standards were housed in the audit standards–thus, the need for FASB to issue accounting guidance (ASU 2014-15). This article has been a guide to Going Concern Assumption and its meaning. Presenting on a Going Concern Basis. 179-207. Tone: All content should fit the Going Concern Dec 17, 2024 · Remember we’re only three years into the private equity frenzy. And if, at the time the statements are issued, there is any substantial doubt about the ability to realize those asset values and liquidate those liabilities, disclosure by management in a note and by the auditor in its report is Jul 8, 2020 · In step 2 of the going-concern assessment, an entity must apply the guidance in ASC 205-40-50-6, which requires the entity to “evaluate whether its plans that are intended to mitigate [the conditions and events identified in step 1], when implemented, will alleviate substantial doubt about the entity’s ability to continue as a going concern. 7 No. Jan 26, 2024 · This paper addresses a underlying assumption of financial statements: going concern assumption. Sep 21, 2010 · Going Concern Follow . Going Concern @going_concern · 15 Feb. Nov 1, 2014 · We find that the cost of equity increases between 3. Again with the "normal company" they usually get a going concern because they are running out of cash and have a shit load of AP which yes, is a huge red flag. Accounting holds many fundamental assumptions that allow accounting theory to function. Clear and consistent messaging across financial reports, press releases, and investor calls is essential to prevent misinformation and reduce panic, which could worsen Dec 1, 2011 · On this purpose we assume some proposals to going concern concept and its practically use improvement. This amount is the current value of its office, warehouse, and inventory that can be sold if it were to be sold off in liquidation. Introduction. Nov 8, 2024 · If you have something to say about any stories linked here you are welcome to email the editor, text us at 202-505-8885, or hit us up on Twitter @going_concern. Dec 20, 2022 · The article goes on to profile a Nevada winemaker struggling to find accounting talent. Sep 1, 2021 · The going-concern opinion (e. e. Who says CFOs, controllers: Documentation is key for ASC 606 implementation, going concern Organizations are responsible for the accounting policies that their financial statements reflect. 5. Jan 18, 2025 · Key Indicators of a Going Concern Issue. S. Nov 19, 2024 · About the Journal. Jan 7, 2025 · Going Concern News Desk; January 16, 2025; Announced today, New York-based Grassi (IPA Top 100 #56 with $132. Financial Times reported moments ago: EY has called off the plan to break up its audit and consulting businesses after months of internal disagreement. Examining evidence iRobot IRBT-24. 7 percent for firms that receive a first-time going concern opinion. Abernathy et al. who have Feb 26, 2025 · Non-mandatory guidance on the ‘Going Concern Basis of Accounting and Related Reporting, including Solvency and Liquidity Risks’ brings together the requirements of company law, accounting standards, auditing standards, listing rules, the UK Corporate Governance Code and other relevant regulation into one convenient place for those preparing Jan 5, 2023 · Going concern is a financial accounting term for a business with enough cash flow to show the company’s ability to stay afloat and avoid bankruptcy for the foreseeable future. , 2019 ; Albrecht et al. One of these concepts is going concern. A company’s capitalization and depreciation policy are prime examples and most likely documented in company records. IAS 1 only states that when a company has a history of profitable operations and ready access to financial resources, management may reach a conclusion on the appropriateness of the going concern assessment without detailed analysis. THE GENERALLY ACCEPTED ACCOUNTING PRINCIPLES (GAAP), THE STATUS BETWEEN A GOING CONCERN AND CHANGE Taha Ahmad Hasan Irdiny, University of Mosul Sinan Zuhair Mohammed Jameel, University of Mosul Ali Hazim Alyamoor, University of Mosul Feb 7, 2025 · Going Concern News Desk; October 28, 2024; In September, Wall Street Journal was first to report that PwC planned to cut 1800 […] Career Center; News; PwC; Nov 23, 2019 · However recently Principle of Going Concern was tested & invoked due to certain events impacting the business entities which raised question mark on the ability of these business entities to carry on its businesses in future. . This concept plays a vital role in preparing financial statements of a company on the basis of whether the company is a going concern or not. We get it; many of you come to Going Concern for the comment section. , 2020 ; Gutierrez et al. the status between a going concern and change. This article explores the critical guidance from IFRS and the Companies Act 71 of 2008, practical tools like cash flow analysis and stress testing to m Jun 26, 2023 · The result showed that out of 1817 publications analysed, 449 articles representing 24% of them were single-authored. Mar 6, 2025 · Current and historical data on accounting salaries, bonuses, and Big 4 compensation discussions. Quiver AI Summary. Academy of Accounting and Financial Studies Journal, 25(6), 1-12. The remaining articles were co-authored. com . Sponsored Links: If an article includes a sales lead hook and/or sales links please review our media kit for cost. … Dec 31, 2024 · Purpose The going concern audit opinion is an audit opinion issued by an auditor to evaluate the company’s ability in maintaining the business continuity. Tips: 202-505-8885 • editor@goingconcern. Thus, taking in account the actual statements of the IFAC documents (ISA 570) and the latest Further, recent corporate failures have brought the auditor’s review of going concern back into focus. The going concern qualification is of great concern to lenders, since it is a major indicator of the inability of a company to pay back its debts. I would wager that in 5 or 10 years, we are not going to have enough experienced managers here in the U. Dec 9, 2024 · Some good news for the PCAOB haters out there:. PwC scandal triggers big split risk for consulting giants [Sydney Morning Herald] Mar 6, 2025 · This is where leadership and accounting firm owners can find articles, news items, and intel of value to partners and decision makers. Going Concern’s research applied the Event Study methodology and found results differed from similar prior studies e. Sesungguhnya asas going concern sudah umum dikalangan profesi akuntan. This difference occurs because this study was conducted in Italywith different market environment characteristics. Learn about the accounting standards and different factors that determine this status. Jul 1, 2022 · The going concern (GC) assumption forms the basis for preparing financial statements unless liquidation becomes imminent. It has 250,000 employees in over 700 offices around 150 countries in the world Oct 30, 2024 · TLDR ChatGPT summary: BDO USA filed a lawsuit accusing a former leader, Phuoc Vin Phan, […] Going concern The additional guidance given for ISA 570, Going Concern. PCAOB Critic Picked for SEC Chair, Raising Potential for a Smaller Audit Watchdog. A negative going concern opinion means auditors think the business will close. Skip to content Monday, March 10, 2025 Feb 18, 2025 · Footnotes is a weekly wrap-up of news from around the accounting profession hand-picked by Going Concern editors to keep partners, staff, and practitioners of all stripes informed. Jun 20, 2018 · This article summarizes (in one place) the new going concern accounting and auditing standards. , A1->A2, A2->S1, S2->S3, etc). We find no evidence that auditors' going‐concern reporting decisions were directly affected by partner compensation plans. However, recent years h Dec 23, 2024 · Going concern adalah prinsip bahwa kreditur berwewenang melanjutkan usaha debitur dengan persetujuan dari panitia kreditur, jika memang dianggap akan menguntungkan bagi harta pailit. Who says Jan 18, 2025 · Communicating going concern issues to stakeholders requires a strategic approach that balances transparency with maintaining confidence in the company’s long-term prospects. However, for going concern sales, there is an important exception which exempts the transaction from the full 15% GST charge. to manage the offshore Dec 30, 2024 · Posted on December 30, 2024 by Going Concern News Desk With just a day and a half remaining before the clock ticks over to a new year we better hurry up and get to looking back on the most popular reads of 2024. However, recent years h A central tenet of audited financial statements is the assumption that the reporting firm will remain in business for the foreseeable future, that is, it is a going concern. Jan 2, 2023 · If we’re going to do it, let’s also restate years 1999 – 2009 so we can compare at least. For investors, a stable going concern status signals potential for growth and profitability, encouraging capital commitments. Jun 11, 2024 · The article goes on to say: The acquisitions by financial buyers of those two top-10 firms by revenue opened the floodgates to other deals, the people said, positioning private equity to increase its influence over the US accounting profession dramatically. We saw the diatribes and polls on Twitter, we read the pissed-off emails, we noticed the lack of activity on Open Items. For example, this is the case of the formal opinion released by auditors on the business continuity examining the annual reports (e. Special considerations related to the COVID-19 pandemic When management needs to do projections, auditors need to consider the reliability of the underlying data involved in those projections and the reasonableness of Jun 24, 2022 · What is going concern? Going concern is an accounting term used to describe a company that is not in danger of liquidating its assets or filing for bankruptcy within the next 12-month period. ASU 2014-15 requires management to evaluate GC uncertainties quarterly and provide disclosures in the notes. The going concern assumption constitutes a foundational premise presuming that the entity will A central tenet of audited financial statements is the assumption that the reporting firm will remain in business for the foreseeable future, that is, it is a going concern. In the complex environment in which we currently operate, there is an increasing focus on going concern assessments, which are inherently subjective and multifaceted. Jul 20, 2022 · We examined the 2022, 2021, 2020, and 2019 PwC comp threads on Reddit, and the 2017, 2016, 2015, 2014, and 2013 comp threads on Going Concern. Feb 17, 2025 · Wait: It’s vital to the profession to maintain those 150 hours! It’s mind-boggling how 150 ever got passed in the first place. Jun 15, 2020 · Auditors of nonissuers follow the guidance contained in AICPA AU-C section 570, The Auditor’s Consideration of an Entity’s Ability to Continue as a Going Concern, which applies to all audits of a complete set of financial statements, regardless of whether the financials are prepared in accordance with a general purpose or a special purpose Going Concern News Desk; January 11, 2023; Jan. These standards require management to assess whether a company can continue as a going concern for at least 12 months from the reporting date. 33-hectare site of the Greenery Garden Centre fronting the Yarra River in Melbourne’s north-eastern suburb Heidelberg has been put to the market as a going concern. Want to know what’s happening in the accounting industry without the excess of bathroom humor and naughty words Going Concern is notorious for? This is your spot. ” Apr 11, 2023 · Called it!. 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). Older posts. Sep 10, 2024 · Going Concern News Desk; September 10, 2024; NASBA released CPA exam scores for discipline sections today and it must have been on […] CPA Exam; News Apr 3, 2020 · We need to take that consideration going forward in whether the substantial doubt related to going concern was alleviated. If so, the going concern is resolved, as long as the parent entity is in a sufficiently reasonable financial condition to cover the debts of its subsidiary. President-elect Donald Trump’s plan to nominate Paul Atkins, a longtime critic of the Public Company Accounting Oversight Board, to lead the regulator that oversees it could spur major changes at the audit watchdog, possibly including a move to abolish it. Aug 23, 2024 · Posted on August 23, 2024 August 23, 2024 by Going Concern News Desk Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. Firms are sending the work offshore and as the article pointed out, the experience goes along with it. The findings explain that the modification of the going concern causes adverse reactions. You can learn more about it from the following articles – Internal Audit Definition; 5 Types of Financial Ratios; Materiality Concept; Internal Audit vs External Audit Sep 21, 2024 · My friends and I (all CPA’s) talk about this issue quite often. When accounting goes unaccounted for. See ya. Here we discuss Going Concern definition, accounting principles, audits, basis, values, and examples. I refer to three recent instances where the principle of Going concern was invoked: Bharti Airtel Limited Vodafone Idea Sep 12, 2022 · Going concern Principe de continuité de l'exploitation. III announced that its audited financial Dec 30, 2022 · Next up on the PCAOB’s hit list is EY, whose 2021 inspection report was released […] Jun 8, 2023 · Heard a few grumblings about RSM layoffs earlier today, lo and behold there’s a Reddit thread. Jan 8, 2025 · Posted on January 8, 2025 January 8, 2025 by Going Concern News Desk We’ve received a tip from someone inside Grant Thornton letting us know that CEO Seth Siegel, who was named CEO in 2021, has stepped down effective immediately. No one wants a "going concern" on their financials but usually the foot notes explains why there is one and how bad it is. Jul 5, 2020 · Companies subject to a going concern qualification also may face a credit rating downgrade. and China, the U. 4 days ago · EY is a multinational Big 4 accounting firm headquartered in London, England. Jul 25, 2018 · It’s true. Figure 11 shows the co-authorship network of collaboration among countries in publishing articles on going concern. What is a Going Concern? As mentioned, ‘going concern’ reflects that your company’s financial statements show that it is likely to continue operating for the foreseeable future (usually around 12 months). For the GST exemption to apply to a going concern sale, the following requirements must be met: The sale must be expressly stated in writing as a going concern transaction; Oct 13, 2022 · Moss Adams admitted 36 lucky boys and girls into the partnership last week, topping last […] Going Concern Follow . ” Jul 3, 2024 · This is a common approach when the going concern issue applies to a subsidiary; the corporate parent merely guarantees its debts. The purpose of this paper is to Jan 9, 2025 · While the AICPA and large accounting firms have begged urged the SEC not to approve the PCAOB Firm and Engagement Metrics rule (PCAOB-2024-06) approved by the PCAOB on November 21, 2024, at least one person would like to see the added transparency this rule could provide and he’ll explain why in a comment letter we’ll discuss below. The accounting definition of a going concern is “a business that is assumed will meet its financial obligations when they fall due. Sponsored links are not accepted in guest posts. 37 Tahun 2004 tentang Kepailitan dan Penundaan Kewajiban Pembayaran Utang (UU Kepailitan dan PKPU) yakni asas kelangsungan usaha (going concern). Going Concern : Jurnal Riset Akuntansi diterbitkan oleh Program Studi Akuntansi Fakultas Ekonomi dan Bisnis Universitas Sam Ratulangi Manado, dimaksudkan sebagai media pertukaran informasi, penelitian dan karya ilmiah antara pengajar, alumni, mahasiswa dan masyarakat pada umumnya. Text: Hearing rumors from multiple sources that RSM is conducting layoffs today and for the rest of the month. III announces a going concern opinion in its annual financial report, filed with the SEC. Mar 1, 2000 · We examine, in an archival setting, the association of partner compensation plans and client size with auditors' propensity to issue going‐concern audit opinions to stressed clients. Jan 14, 2025 · The going concern principle is a cornerstone of financial reporting, shaping how businesses assess their ability to operate over the next 12 months. IFRS Standards do not prescribe how management performs the going concern assessment. And I Brought a Special Guest. Feb 10, 2025 · Salah satu asas yang tercantum dalam Undang-Undang No. Obtain funding. Jun 29, 2022 · Posted on June 29, 2022 April 10, 2023 by Going Concern News Desk With the EY cheating scandal making headlines even outside of our precious little accountosphere we decided to take a look at the full SEC order to answer the question — how and why were EY auditors cheating on CPE exams? Feb 26, 2025 · Article in EU VAT Directive 2006/112/EC. Established in 1976, the […] A going concern is an accounting term for a business that is assumed will meet its financial obligations when they become due. Companies may also risk debt covenant violations by disclosing a going concern, as happened to Francesca’s Holdings, a chain boutique operator, when the company received a going concern audit opinion that cited COVID-19 as a contributing factor earlier ISA 570 (Revised) Going Concern, contains well-established guidance on going concern, including the following objectives for the auditor: to obtain sufficient appropriate audit evidence regarding, and conclude on, the appropriateness of management's use of the going concern basis of accounting in the preparation of the financial statements Cite this article as: Enyi, E. Candidates attempting AA will need to have a sound understanding of the concept of going concern. Mar 3, 2025 · THE 2. It involves evaluating the company’s ability to continue its operations in the foreseeable future and ensuring that it can meet its financial obligations and sustain its business activities. 3 days ago · Accounting profession-centered articles about remote work and the impact it has had on the profession. 6 million in revenue) has […] Firm Watch; Industry Trends; This article discusses these responsibilities, as well as the indicators that could highlight where an entity may not be a going concern, and the reporting aspects relating to going concern. This evidence illuminates the relevance of going concern opinions and the value of the information embedded in them. , 2020 ). Adrienne Gonzalez; July 20, 2018; Further, recent corporate failures have brought the auditor’s review of going concern back into focus. ” According to a press release they put out yesterday, EY plans to invest a billion dollars over three years on talent and technology “to revolutionize the experience of early career accounting professionals and improve the attractiveness of the profession. This article discusses the auditor’s responsibilities, as well as the indicators which could highlight where an entity may not be a going concern and the reporting aspects relating to going concern. Feb 6, 2025 · Daily coverage of the pop culture products industry, including toys (action figures, models and statues), anime (anime, manga, and Japanese imports), games (collectible card and roleplaying games or ccgs and rpgs), comics (comics and graphic novels), and movie and TV (licensed) merchandise. grouping going-concern opinion*, going-concern audit opinion and audit opinion). Had they added a 30-credit requirement to the 120 hours to require courses like “Enron: A Case Study,” or “Accounting Theo Feb 11, 2025 · Ninja CPA’s list of pass rates going back to 2006 confirms that my memory is accurate for once. There are several indicators that suggest possible going concern problems. 1 was a big day for 109 overachievers at RSM US as their long […] BDO; Practice Management; Promotion Watch ’22 Nov 5, 2024 · Example of Going Concern Value. Oct 1, 2019 · How Does a Going Concern Work? All audited financial statements filed with the SEC must disclose whether the auditor believes a company is a going concern or not. The comment section on all Going Concern articles is once again open for business. Ignition has released its 2024 US Accounting and Tax Pricing Benchmark report and it reveals that the 325 Ignition customers surveyed are going all-in on fee increases in 2025. This term is used to make an assumption that a business considered to be "a going concern" is expected to stay in business, at least for now. Some lenders specify in their loan documents that a going concern qualification will trigger the acceleration of all remaining loan payments. How to perform the assessment. Published every Friday at 5 PM Eastern time. The Big Story. The comment section on all Going Concern articles […] Announcements; I’m Back, Bitches. Nov 13, 2024 · Going Concern News Desk; January 25, 2023; Based on the 2021 PCAOB inspection reports we’ve reviewed so far, the audit firm that […] Posts navigation. May 25, 2020 · The article addressed two propositions, namely that the regulatory aspects influencing the going concern assessment in the context of a listed company under business rescue are clear, and that possible context-specific indicators of a going concern can be established. 1 (2018): 179-207 Mar 16, 2022 · A going concern is a business that auditors expect to stay active in the future. The study employed the best-worst method of Dec 19, 2024 · Going Concern in Accounting. Article 19 (Taxable transaction – Transfer of Going Concern) In the event of a transfer, whether for consideration or not or as a contribution to a company, of a totality of assets or part thereof, Member States may consider that no supply of goods has taken place and that the person to whom the goods are transferred is to be treated as the successor Going Concern is often accused of sensationalizing in headlines and it’s a completely valid criticism […] 2 days ago · Legato Merger Corp. Identifying going concern issues involves analyzing various financial and operational indicators. Auditors' reports to those charged with governance This article discusses the important reporting 'output' produced as a result of the audit process, that of the auditor's communication to those charged with governance. (2018), “Going concern, earning capacity and corporate financial stability”, International Journal of Development and Sustainability , Vol. Jul 12, 2023 · 1. I really hope this advice gets sucked… Weekend Discussion: Let’s Talk Counteroffers Feb 10, 2025 · The recognition of going concern value in financial reporting adheres to frameworks like GAAP and IFRS. Financial statements are prepared as though the firm is a going concern unless a) management intends to liquidate the company, b) the company will stop trading for some reason, and/or c) the auditors or management believe there's Feb 2, 2025 · The going concern assumption influences decisions made by investors and creditors, shaping their assessment of a company’s long-term viability. 7 No. Indicators Affecting the Going Concern Assumption. Jul 23, 2013 · See Also: Valuation Methods Value Drivers: Building Reliable Systems to Sustain Growth Value Chain Liquidation Valuation Asset Market Value versus Asset Book Value Going Concern Value Definition The going concern value definition is the value of a company under the assumption that it will continue to operate for the foreseeable future. Aug 10, 2023 · This article examines the relationship or effect of company size, company growth, and company liquidity on going concern audit opinions, a study of auditing literature. There’s no roadmap for the private equity firms that got in early to follow when it comes to exits so they might hold on to their accounting investments for even longer once they realize that offshoring 60% of work to India isn’t the genius solution they had hoped and that completely revamping a mid-market accounting firm Jun 13, 2024 · At least they said “attractive” and not “sexy. The decision is set to be communicated to partners in a note on Tuesday, said people with knowledge of the matter. 1, pp. g. P. Legato Merger Corp. Mar 6, 2025 · Going Concern is the leading publication for accounting professionals aged 18-34 with news, analysis, career advice, and commentary. You were upset when we took away comments in May. This research paper has a comparison of scores from 2004-2007 (with bonus 150 hour rule figures): From “ The 150 Credit-hour Requirement and CPA Examination Pass Rates—A Four Year Study ” in Accounting Education February 2012 Sep 28, 2024 · The Importance of the Going Concern Qualification. We know Big 4 and mid-tiers have this pricing thing down. As an example of going concern value, Questionable Corporation has a liquidation value of just $5 million. Nov 7, 2024 · *Smaller shops, that is. mkkve gqxfr whp nnmtwe pihppc bfxjg kdfd jivrms iessg sednni tkag rkrkevh xpivu uxgpl ruhhj