Going Concern: Where Is It Going?

Abstract

On June 26, 2013, the Financial Accounting Standards Board (FASB) issued an exposure draft concerning disclosure of uncertainties surrounding the going concern presumption.  This exposure draft is the FASB’s most recent attempt to bring closure to a project that began in 2007.  This paper examines the going concern presumption and the FASB’s treatment of the going concern from 2007 to the present.