ContentWhat Are the Assumptions of the Going Concern Concept?Qualified opinionAmendments under considerationConsideration of the Effects on the Auditor's ReportWhen Does a Company Perform a Going Concern Assessment?Going Concern Assumption: Fundamental Accrual Accounting PrincipleExamples of Going Concern ConceptLiquidation Valuation Method (“Fire Sale”)How a going concern qualification affects a business This revaluation may be used to price the ...

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No particular accounting problems are created by using both costing methods--the variable costing method for internal reports and the absorption costing method for external reports. The adjustment from variable costing net operating income to absorption costing net operating income is a simple one that can be easily made at year-end. Practically speaking, absorption costing is required for external reports in United States and almost all over the ...