The Financial Accounting Standards Board has issued a proposal to improve disclosures of uncertainties related to an organization’s ability to continue as a going concern.
Under U.S. GAAP, financial statements are prepared under the presumption that the reporting organization will be able to continue as a going concern, which is critical to financial reporting because it establishes the fundamental basis for measuring and classifying assets and liabilities.
Register or login for access to this item and much more
All Accounting Today content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access