Going concern principle

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

05 August 2013 License to run a business of a partnership firm has been cancelled and this case is under appeal.Can i show that the financial statements are prepared following going concern concept in the audit report?

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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05 August 2013 .
Until someone can breathe- he can not be declared as dead.
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Accidental -Case:
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If the concern may go with new or existing alternatives then it should be treated as
a going concern.
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So, until the appeal is decided you may go with the same concept.
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Looking to the seriousness of the injury, relatives should have been informed about the status of the patient. You may convey the message to the stakeholders by way of a note.
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Querist : Anonymous

Querist : Anonymous (Querist)

06 August 2013 Thank u sir..!!

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