Going Concern definition

Going Concern means the ability of the company to continue operations/business in the future with the availability of the resources.

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Going Concern is defined by the Auditing Standards Board SAS No. 132.

Going Concern means all the assets, tangibles or intangibles and resources needed to continue to operate independently a business activity which may be whole or a part of the business of the corporate debtor without values being assigned to the individual asset or resource.”

Examples of Going Concern in a sentence

• Either The sale is not a taxable supply or The Margin Scheme applies and the Sale Price includes GST or The GST-free Going Concern concession applies and/or The GST-free Farm Land concession applies and/or If the treatment above does not apply: The Sale Price includes GST or The Sale Price is plus GST GST Withholding Treatment (See Standard Condition 11) Mark a box to indicate the GST Withholding Treatment.

• Otherwise clause 11.7 (If the Supply is a Going Concern) does not apply.

• Mark 1 box only ■ WARNING: Do not complete Item GST3 if Item GST1 (Going Concern) or Item GST2 (Margin Scheme) are marked Yes Yes If Yes, clause 11.4 (Purchase Price includes GST) applies.

• The timing and procedure before the arbitrator (including the requirement that the arbitrator choose the value of one or the other of the competing proposals) will be the same as that followed for the original establishment of the Going Concern Value.

• Notwithstanding any delay in, or unavailability of procedures of, DTC reflecting the Going Concern Write-Down on its systems, the Going Concern Write-Down shall take place on the relevant Going Concern Write-Down Date.

More Definitions of Going Concern

Going Concern concept means that we prepare the financial statements on the assumption that our business is financially sound and not about to be liquidated.

Going Concern means an opinion of an independent accounting firm auditor that there is substantial doubt regarding the entity's ability to continue into the future, generally defined as the following year.

Going Concern means the benefits that accrue to a business or trade as a result of its location, reputation for dependability, skill or quality, customer base, good will, or any other circumstances resulting in the probable retention of old or acquisition of new patronage; and

Going Concern. ’ means an entity that

Going Concern means an enterprise consisting of income-producing assets which has been in operation for a sufficient period of time to generate the data required for the calculation of future income and which could have been expected with reasonable certainty, if the taking had not occurred, to continue producing legitimate income over the course of its economic life in the general circumstances following the taking by the State;

Going Concern. Event of Default (as defined in the Credit Agreement) that would otherwise occur under the Credit Agreement as a result of the filing of the Company’s 2020 Form 10-K in February 2021;

Going Concern means all the assets, tangibles or intangibles and resources needed to continue to operate independently a business activity, which may be whole or a part of the business of the CD without values being assigned to the individual asset for resource. In view of this, the following options are submitted for consideration: