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Definition: Going Concern
Category: OECD terminology
Refers to the ability of an organisation to pay its debts as they fall due. An organisation which is able to do so is a going concern. One of the key assumptions underlying the general preparation of financial statements is that they are prepared on the basis that the organisation is a going concern. http://ec.europa.eu/eurostat/ramon/coded_files/OCDE_09E74304_en.pdf
Source:
Organization for Economic Cooperation and Development (OECD), "Effects of European Union Accession, Part 1: Budgeting and Financial Control", OECD SIGMA Paper No. 19, Paris, March 1998
Organization for Economic Cooperation and Development (OECD), "Effects of European Union Accession, Part 1: Budgeting and Financial Control", OECD SIGMA Paper No. 19, Paris, March 1998
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