Would you like someone to tell you when there’s substantial doubt that a borrower will be able to continue normal operations over the next year? Fortunately, the going concern assumption underlies all financial reporting done under U.S. Generally Accepted Accounting Principles (GAAP). And, it’s something CPAs evaluate during financial statement audits. Here are a few items they look for during that assessment.
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Topics: borrower, Commercial Lenders, financial viability, going concern assumption, Uncategorized