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Going Concern Accounting Standard​

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Accounting Spotlight — Going Concern — Key Considerations ...

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Under U.S. GAAP, an entity's financial statements are prepared under the assumption that the entity will continue as a going concern until liquidation is imminent (i.e., the "going concern basis of accounting"). Once liquidation is deemed imminent, an entity must apply the liquidation basis of accounting under ASC 205-30. 2

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Revised going concern standard - ISA 570 Revised - KPMG ...

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The accounting standards require the preparation of a going concern assessment, taking into account all available information about the future, for a period of at least 12 months.

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Handbook: Going concern - KPMG

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Overview of going concern assessment. Step 1: Assess whether substantial doubt is raised. Step 2: Assess whether substantial doubt exists. Disclosures. Impact on other accounting matters. Risk assessment and ICFR. Auditor's going concern assessments.

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Going Concern Accounting and Auditing | CPA Hall Talk

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Going Concern Accounting Standard ASU 2014-15, Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern, provides guidance in preparing financial statements. This standard was effective for years ending after December 15, 2016.

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Going concern: IFRS® Standards compared to US GAAP

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Further, under IFRS Standards, if the company ceases to be a going concern after the reporting date but before its financial statements are authorized for issuance, IAS 10 4 requires a change in the basis of accounting, as opposed to adjustments to the amounts recognized under the going concern basis of accounting. COVID-19 impact on the assessment

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Going Concern Definition - investopedia.com

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Going concern is an accounting term for a company that is financially stable enough to meet its obligations and continue its business for the foreseeable future. Certain expenses and assets may be...

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FASB Issues Accounting Standards Update Related To Going ...

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Financial reporting under this presumption is commonly referred to as the going concern basis of accounting. The going concern basis of accounting is critical to financial reporting because it establishes the fundamental basis for measuring and classifying assets and liabilities.

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ASB issues new going concern auditing standard - Journal ...

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In August 2014, FASB issued its accounting standard that addresses management's responsibilities with respect to going concern (Accounting Standards Update (ASU) No. 2014-15).

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Update No. 2014-15—Presentation of Financial Statements ...

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Update No. 2014-15—Presentation of Financial Statements—Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern By clicking on the ACCEPT button, you confirm that you have read and understand the FASB Website Terms and Conditions.

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4 Things to Know About the New Going Concern Auditing Standard

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The FASB standard established that there would be going concern issues if it is probable that the entity will not be able to meet its obligations within a year of when financial statements are issued. Disclosures about substantial doubt are different than management use of the going concern basis of accounting.

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What FASB's Going Concern Standard Really Means for Your ...

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Going concern is an accounting assumption that an entity has the resources to continue operating for the foreseeable future. It helps assure key stakeholders that the business has a secure financial future. The FASB issued ASU 2014-15 providing guidance on determining when and how to disclose going concern uncertainties in the financial statements.

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IAS 1 — Disclosures about going concern

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The IFRS Foundation Trustees received a report from Mr Hoogervorst (IASB Chair) and senior technical directors. An update on the operation of the Accounting Standards Advisory Forum (ASAF) was received, and various IASB projects were discussed. IAS 1 — Assessment of going concern (IASB only) 21 Mar 2013

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The going concern principle — AccountingTools

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The going concern principle is the assumption that an entity will remain in business for the foreseeable future. By making this assumption, the accountant is justified in deferring the recognition of certain expenses until a later period.

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ASA 570 - Going Concern - April 2006

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6 "Going concern basis" means the accounting basis whereby in the preparation of the financial report the reporting entity is viewed as a going concern, that is, the entity is expected to: (a) be able to pay its debts as and when they fall due; and

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What are the New "Going Concern" Disclosures? | Accounting ...

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FASB Accounting Standards Update (ASU) 2014-15 changes the disclosure requirements of the going concern concept for organizations with annual periods ending after December 15, 2016. This new standard makes organizational management responsible for assessing going concern internally. Previously, the U.S.

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The audit of going concern | ACCA Global

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The period of time that needs to be considered by directors for assessing going concern is not set at a maximum by the accounting standards. However the FRSSE provides that management should disclose in the accounts where the period considered in making its assessment is less than twelve months from the date of the approval of the accounts.

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Accounting Standard Convergence Archives - Going Concern

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The U.S. Financial Accounting Standards Board and the IASB have redoubled efforts to complete their major convergence projects by a June 2011 deadline set by the G20 group of leading countries. Now the International Accounting Standards Committee Foundation, which oversees the board, is on the search for the next bean counter in shining armor.

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Useful Blogs

How Do I Log Into Zoom App for Online Classes?

 You can easily use the zoom account for the online classes by signing up and downloading the app for free. Zoom can be downloaded on either PC, Mac, Android, or iOS, and up to 100  people can join an online class/ meeting in the free model. Once you have downloaded the app, an account will need to be created, and you can make one using an already existing Facebook or Google profile. What is the Zoom App? Zoom is a video conferencing and webinar tool available to all the current, including college, university students, and business users, to work remotely. It is simple to use and provide cloud-based web, video conference, and webinar solution. Furthermore, with the zoom app, you can easily attend a video meeting or webinar directly from your computer, mobile device or an on-campus zoom configured classroom. How to Download Zoom Zoom is a free platform that can be accessed on any device with an app store. You can download it easily from the app store on your phone, computer, or tablet. You can also download the zoom from the apple store if you have iOS or Google if you have an android. Suppose you have an iPhone click get and then open once the app downloads. If you have an android, click install, then open the app once it’s finished downloading. Furthermore, you can also download it for your computer by visiting the zoom online download center. How To Use Zoom Once you have downloaded the free zoom software, then it’s time to get started. Launch the app, and you will see the screen that says join meeting or sign in. If you already have login information, then you can sign in and join a meeting. If you are new to the app, you will have to create an account. But you don’t need to worry because it is free. How to Join a Zoom Meeting For The Online Classes: People who want to join the zoom meeting for the online classes through the app or accept the email invite. If you want to join the zoom online class Zoom meeting for those who have downloaded the app, all you need to do is sign into your account and click join. Once you have selected join, you will need to enter the unique meeting ID number and display name. For those who don’t have the app downloaded, you can join the meeting by way of the email invite. You have to click the link provided in the email invitation, and you will be redirected to the zoom and the meeting. You need to sign in to your account to get all the benefits offered by Zoom. Benefits Of Zoom You are doing the big thing, and acting as IT support should not be one because it provides straightforward purchasing and deployment with no hidden fees. It is one click to start or join any meeting, and the zoom provides easy collaboration and participant controls. Zoom is one of the popular Apps all over the world and is mostly used these days for online classes and meetings. Modern Communication way for the Students: One of the big benefits of the zoom app is that with the Zoom app, you can easily get your students together up to 100 participant standard or to have a quick one on one meeting. Our HD audio and video deliver even in a low band with environments. So by this, your students can easily connect to their studies and focus on their studies.   Like Live Event: Zoom provides great benefits. Zoom not only brings the video for the presenter, but it also adds video for the attendees. It means that the presenter you are not speaking to your computer. You are presenting to a real live audience. So when they ask questions, you can easily see and feel that what they want to know and hear their question. Replay the Video: It is easy for the students because the zoom app also records all the videos from multiple students. The attendees are part of the questions and the answer. It allows the whole event to be captured and not and also includes the question asked by the attendees via the chat. The attendees who could not make it can experience the event as though they were there with the full video of everyone who speaks included. Scalable: Zoom is the best app and truly scalable. The zoom provides the ability to support 500 interactive participants and up to 10000 viewers; zoom can cope with your meeting requirements whether you have to conduct the big class or small no matter because the zoom allows up to 100 students.
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Face ID VS Fingerprint: Which Is More Secure?

Our data is the most precious asset for us. We have to keep it safe from cybercriminals. Therefore, we must know about security apps to protect our phone and personal data. Now the question is: Face ID VS Fingerprint; Which is more secure? And which one is to be chosen?  Fingerprints are the security key Rather than most of us rely on two critical elements of our fingerprint data that only we possess and no one else. There are two main options for those who are looking for an app to secure their devices that entirely rely on Face ID. As we know, face ID has its benefits as well as drawbacks, fingerprint also owns many benefits, drawbacks you should know. The Apple iPhone has long had Touch ID. It has a fingerprint sapphire crystal sensor which unlocks the phone only if the pattern matches. This kind of match used not just the whirl of your fingerprint. It also includes the location of your skin's clear pores to ensure that it was you who was trying to access the device. However, Apple removed the home button with the iPhone X, which can open your phone with a fingerprint. Despite it, Apple offered something unique that is Face ID.  The security level of Face ID Apple demanded a sleek front phone and removed the home button that had been the base of the device since its starting. Then it offered an alternative that was more simplistic, but few argue less secure. The owners of the mobile point at camera, face, and unlock their smartphones rather than using a fingerprint. Furthermore, it is designed to be a friction-free process. However, this one is considered less secure. Research has proven that it is possible for strangers who have similar facial features got success in gaining access to your phone. The reason is simple because the technology works on a lower resolution.  Unlike fingerprints, facial features are not at all unique.  Researchers somehow managed to use social media pictures to spoof facial recognition security. It was done even before Face ID was released. This process is more straightforward than creating fake fingerprints. However, face recognition is considered to be better than no protection at all, but it is not relatively more secure than Touch ID. Reliability It is improbable to have as catastrophic consequences as many fears. Most accidental unlockings are likely to happen between family members instead of a criminal managing to obtain access. Therefore, the reality is that facial recognition is less reliable than fingerprints for gaining access to phones and devices.  On the other hand, fingerprints have also proven to be get hacked. The fingerprint is strong enough to protect users from ordinary or opportunistic attackers which is substantially better than nothing. Moreover, if you are after quick and easy access to your phone as well as happy to trade off some security for that, then, in this case, relying on Face ID is a good alternative. However, you have to be just careful while storing vital information on your phone, which anyone could access. Authentic Security System Both Face ID, as well as fingerprint, is secured as declared by Apple. However, for the most part, that is true too. It is sporadic that a random person could unlock your phone. However, that is not the only type of attack to worry about it. While using different biometric authentication methods; Face ID and Touch ID are very similar in functioning.  When you try to log in to your iPhone either by pointing your face at the camera on the front, or you put your finger on the touch sensor, the phone immediately compares the biometric data. It reaches and detects the data that is saved in the Secure Enclave. Furthermore, there is also available a separate processor that's entire purpose is to keep your phone safe and secure. Your iPhone unlocks if the face or fingerprint matches. If not, the message will be prompted to enter your passcode. Nothing Protects You from the Government Agencies Nevertheless, any security app can ever truly protect you from a determined government agency with virtually unlimited resources who want to get access to your phone. Not only can they legally bound you for using Touch ID or Face ID to unlock your phone, but they also have access to tools like the GreyKey. Greeley can crack any iOS device passcode that will make fingerprint and Face ID useless for you. Fingerprint and Face ID are incredibly convenient, and if they are backed up with a strong passcode, then it is secure for daily use by everyone. However, they might not protect you for long if you are the target of a determined hacker or government agency.  Conclusion Both fingerprint and face ID is secure, but the fingerprint is more secure as compare to face ID. Anyone who has the same facial features as you can get access to your phone if you are using FaceID. Fingerprint ID is said to be unique as compare to FaceID.
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Tips to Getting Your Account Credentials Back Easily

Follow these measures to improve your chance of returning to your Google Account if you cannot sign in. Go to the recovery page of the account. Use as many tips as possible as you complete the steps below. Perhaps all the questions mentioned here are not visible. You should try again if you have already tried to get your account back and got a message from "Google couldn't verify this account belongs to you." Using a familiar device and positioning You often log in to a computer, phone, or tablet. Use the same browser you usually do, (such as Chrome or Safari). You'll normally be at a place, as at home or work. Be accurate with security questions with passwords & responses. Details are essential, so avoid typos and take care of the letters above and below. Password If the last password you remember is asked for, enter the new password you remember. If your last password is not in your memory: use a previous password, you know. The newer, the better it was. If you can't remember previous passwords confidently: make your best guess (keep in mind to create a strong password). Enter an email with your account Include one that you have applied to your account if you are asked to enter an email address. Some examples are given here. You will get a recovery email address and provide us with security updates.  You get details on most of the Google services that you use in a contact email address. You may use an alternative email address to subscribe. Add useful knowledge Include useful information if you are asked why you cannot access your account. You are flying. You are traveling. You get a certain message of error. For malware or other cause, you think your account has been compromised. Last week and you did not remember, and you changed your password. This similarity will support your case if your description fits the details we have. Check for a message from our team from your spam folder. Difficult to password out there Many of today's logins are password secured. You can obtain a password and do whatever you want with that account if the intruder can acquire your password. Suppose you ask how secure your account is how secure your password is. That means you need to know how an intruder can access the password of your account. You can see it with a website that is not encrypted. Steal your password from a file. Use the resetting password. Have you tried to give it to them? It would be best if you stopped as many of them as possible to keep your login secure. Every risk is mitigated differently. Get assistance with a password manager All this sounds very bullying. Now. It is not good in the human mind to come up with long random letters, let alone to remember them. You may use a password manager for better password hygiene, such as 1Password, LastPass, or Dash lane. Strong passwords are created, remember them for you and fill them in the websites to prevent you from typing in them. Use one of them to take some chance, as they create a database that contains all of your passwords. Your master password would be more protected from robbery than ordinary since it never is sent to a server (when used on your computer to encrypt your database). In particular, an intruder has to hack into your machine rather than a server where he can harvest millions of accounts. And you can make it extra powerful because you only remember one master password. In general, you are far more likely than anyone to steal your password database and think about their master password that you would misuse an account because you do not use a password manager. Powerful, multifactorial, and diverse We will use passwords for better or worse shortly to secure our online accounts. Use strong and different passwords for each site and support with a password manager. Set long, random answers (even if they are not the truth) to security questions. And on any platform that supports it use two-factor authentication. After these steps, some restraint is taken, and sometimes it isn't easy to log in. But it is worth some discomfort to keep your online life secure on the Internet today, as there are thousands of passwords stolen every day and accounts sold on the black market. The username forgotten Pick the choice that I don't know about. You have already mentioned an email or a telephone number to retrieve your Google username using this form. You may still be able to locate your username if your email account is recently accessed through a browser if you did not specify any recovery details. Gmail will appear in the browser's title bar for your email address to show your email address if you check your browser's history for Inbox or Gmail.
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What To Do If You Forget Face Book Login Details?

Forget FaceBook Login Details is one of the most frequent error users often meet when logging in, in case you have forgotten your Facebook account logging details, It would be frustrating for you. In this article, I would like to help you as possible. If you have forge logging information of your Facebook account, you can recover it with the help of Facebook security features. When you are doing recover or change a forgotten password, it can be solved within some minutes. Recovering a forgotten username, that can take up to 24 hours to retrieve if you have not used the Facebook account for a long time. Suppose you have not used email, which signed up with Facebook using an Alienator, Maildrop, Guerrilla Mail, 10 minutes mail, and other email addresses. It may be difficult to retrieve, but nothing impossible, for this condition you have to add your friends to be trusted contact. You can get help from the Facebook help page.  You can get help from the Facebook help page, by searching for How can I recover my Facebook login details. Follows the instruction given by Facebook to use your trusted contact to re-back into your account. You will receive the page of instructions that contains a URL. This URL includes a specific safety code that can be approached by your trusted friend contact and provide them with this URL. You will open this URL link and send you the provided security code. Use the security code from your friend's device to recover your account. If you not settled, your friend trusted contacts, keep set up immediately.   Recover Facebook Password Facebook will never provide you with your password because it is your privacy and the reason for captivating analytical wizardry. If they allow for then, it will be a wrong security way. There are two accesses to try: one is the official way, and the other is no official way. Either you have not used a non-official method, but you know about it because it shows the other power security threat. The traditional method to recover your Facebook login is Facebook's own account it recovers automatically. It uses such information that you had provided before to confirm you are eligible. If you don't offer current information, you can't access to recover your account. If you organized your password in your browser to remember, then you can view what it's saved. Password Reset Facebook Login Note the steps that alternate suddenly, Facebook-based personal change along with the appropriate of your condition. You can follow the steps which are provided to you on Facebook, however, it may be a little bit different than what I had discussed here.  If you forgot your password, you require retrieving your account.  Just log in your password in the boxes of the entry field of the Facebook login page. Select forget account, and you get a page where you insert the email address or mobile number with the version. Then Facebook page presents you with a list of account recovery options related to your account. You have to select one that you want to use and click on the continue box.  Set a New Password Suppose you do have the reach to the option of the account recovery or way you have chosen, Facebook will provide you with a code. You have to enter that code as per request and click on the continue option. This way proves that you are the right Facebook account holder. The Facebook page may ask you to choose a new password. It is the official and appropriate method to recover access to your Facebook login. With the response to the password recovery option, you makeup initially and then set a unique password. Password Recovery If you are looking to recover your current password, I want to clear you that are cannot or be able to. If you set your browser to remember the password for you, then it is so risky and straightforward also. You will have to use Firefox, but most of the browser has similar functionality. You have to click on the hamburger menu at the right corner end of the Firefox toolbar, and then select the preferences option, according to your version.  You can use the search box on the resulting page to find out the password and when it displays, click on Login saved. After a little more obsession: The dialogue box of saved password updates with more columns that show the actual password for all to see. Security Issue If your browser displays your password:   Go forward and feel comfortable if you can recover your Facebook in this method. You have to be very, very anxious. If you set your browser to save the password, then someone with utilization to your device he can do what we just discussed.  Use this procedure to recover all your saved passwords. It is the only reason; I am recommending you to keep your password in your browser. If you want to do, make sure that your device will always be secure.
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