Per Investopedia: A term for a company that has the resources needed in order to continue to operate indefinitely. If a company is not a going concern, it means the company has gone bankrupt... The filing with the SEC today says "If the Company is unable to timely obtain alternate financing, the Company's cash flows will not be sufficient to meet its obligations as they become due, which would cause the Company to be unable to continue as a going concern".
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Thanks I just learned something!
For example, General Motors was always a GOING CONCERN! Even during the bankruptcy they expected to continue operations indefinitely. Also there are all kinds of changes in the accounting rules. Every accountant and true finance professional (CFA, for example) understands the "going concern" concept. "The 'going concern' concept assumes that the business will remain in existence long enough for all the assets of the business to be fully utilized. Utilized assets means obtaining the complete benefit from their earning potential. (i.e. if you recently purchased equipment costing $5,000 that had 5 years of productive/useful life, then under the going concern assumption, the accountant would only write off one year's value $1,000 (1/5th) this year, leaving $4,000 to be treated as a fixed asset with future economic value for the business)" If the going concern assumption does not hold, then the economic value of the equipment is much less.