|
Volume : IV, Issue : VIII, September - 2014 DOCTRINE OF GOING CONCERN IN CHANGING BUSINESS SCENARIO. Jayanta Kumar Ghosh, - By : Laxmi Book Publication Abstract : 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. Keywords : Article : Cite This Article : Jayanta Kumar Ghosh, -(2014). DOCTRINE OF GOING CONCERN IN CHANGING BUSINESS SCENARIO.. Indian Streams Research Journal, Vol. IV, Issue. VIII, http://isrj.org/UploadedData/5264.pdf References : - -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
|
Article Post Production
No data exists for the row/column.
|