# 3ABCDEFGHIJKLMNOPQRSTUVWYZ

Going Concern

An accounting convention that assumes a company will continue to exist and trade normally for the foreseeable future. In practice this is likely to mean at least for the next 12 months. It allows a balance sheet to be drawn up that values assets at their book value rather than their resale value, a lower value that would be achieved if the company was broken up. Auditors are required to draw attention to factors which cast doubt on a company's ability to continue as a going concern.

See also: http://www.frc.org.uk/CORPORATE/goingconcern.cfm