accounting assumptions

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Megha S (Querist)
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13 February 2008 If the company going to continue its operation in future,follow going concern concept.if going concern concept not followed ?

S.Srinivasaraghavan

S.Srinivasaraghavan (Expert)
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13 February 2008 Is the company idle now?

What basis it putsforth for future continuation?

What do you want to know by asking if going concern concept is not followed,

Megha S

Megha S (Querist)
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14 February 2008 That is,if going concern concept is not followed means that company will not continue in future,should seperatly disclose in notes.is it?

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o.velavan

o.velavan (Expert)
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14 February 2008 No.If the company continue its operation in future,it must follow the going concern concept.Otherwise disqualify the
the audit report.