DOCTRINE OF GOING CONCERN IN CHANGING BUSINESS SCENARIO.

Volume : IV, Issue : VIII, September - 2014

DOCTRINE OF GOING CONCERN IN CHANGING BUSINESS SCENARIO.

DOI : 10.9780/22307850, By : Laxmi Book Publication

The importance of accounting, reporting and auditing is all pervasive and getting more vigour and complexity with the widespread corporations, social awareness, constitutional provisions and the globalisation In carrying out the expectations of the stakeholders of all corners the accountancy is to use the various concepts, conventions, doctrines, postulates, assumptions etc. One of the fundamental accounting assumptions is Going Concern. The Going Concern Assumption refers to the assumption that the accounting entities will run for infinite life stream. That is it will not stop its operations in forcible future. The accounting and reporting are done predominantly based on this assumption. But with the change in the social, legal and the business environmental factors the efficiency of the Going Concern is at stake. The accounting information generated based on this assumption does not provide true picture of the entity. The time has come to have a revisit on the concept of Going Concern Assumption. My objective of the paper is to focus the limitations of the going concern assumption arising out of the changing business scenario and suggest possible ways out for consideration.

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Cite This Article :

Jayanta Kumar Ghosh, -(2014). DOCTRINE OF GOING CONCERN IN CHANGING BUSINESS SCENARIO.. Indian Streams Research Journal, Vol. IV, Issue. VIII, DOI : 10.9780/22307850, http://isrj.org/UploadedData/5264.pdf

References :

Indian Streams Research Journal

International Recognized Multidisciplinary Research Journal

DOCTRINE OF GOING CONCERN IN CHANGING BUSINESS SCENARIO.

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