Going Concern in Accounting and Auditing Literature

Authored by James L. Ulvog, CPA
About this Course
This course covers the going concern requirements located in both the audit and the accounting literature. It addresses the requirements in AU-C section 570, The Auditor's Consideration of an Entity's Ability to Continue as a Going Concern, and in Accounting Standards Codification 205-40. Contrasts between the two sets of requirements will be explored. Upon completing this course, you should be able to: Recognize circumstances that may give rise to substantial doubt about an entity's ability to continue as a going concern; Describe the requirements of professional standards for evaluating those circumstances and assessing their possible financial statement effects; Determine their implications for the auditor's report; Describe management's obligation outlined in the accounting literature to assess whether there is substantial doubt about an entity's ability to continue as a going concern;.Describe how management's plan to alleviate substantial doubt should be evaluated; Explain the disclosure requirements established in the accounting literature when substantial doubt about going concern exists
$ 75.00
Course is unavailable for purchase.
NASBA Field of Study
Auditing
Level
Intermediate
CPE Credits
2.0
Prerequisites
Basic understanding of U.S. generally accepted auditing standards.
Last Updated
10/28/2015
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