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A going concern is an accounting term for a business that is assumed will meet its financial obligations when they become due. It functions without the threat of liquidation for the foreseeable future , which is usually regarded as at least the next 12 months or the specified accounting period (the longer of the two).
However, if the auditor considers that the auditee is not a going concern, or will not be a going concern in the near future, then the auditor is required to include an explanatory paragraph before the opinion paragraph or following the opinion paragraph, in the audit report explaining the situation, [8] [9] which is commonly referred to as the ...
Accounting, also known as accountancy, is the process of recording and processing information about economic entities, such as businesses and corporations. [1] [2] Accounting measures the results of an organization's economic activities and conveys this information to a variety of stakeholders, including investors, creditors, management, and regulators. [3]
Endo (derived from "end-of-contract") [1] refers to a short-term de facto employment practice in the Philippines.It is a form of contractualization which involves companies giving workers temporary "employment" that lasts for less than six months (or strictly speaking, 180 calendar days) and then terminating their employment just short of being regularized in order to skirt on the costs which ...
To this end, a failed airline can be sold as a going concern and then changed into another business. For example, Northwest Airlines bought FLYi airline's AOC to start Compass Airlines, now a feeder airline for Delta Air Lines marketed as Delta Connection. Likewise Strategic Airlines purchased the AOC, staff and routes of the failed OzJet ...
The Philippines is projected to be one of the most vulnerable countries to the impacts of climate change, [5] which would exacerbate weather extremes. As the Philippines lies on the Pacific Ring of Fire, it is prone to natural disasters, like earthquakes, typhoons, and volcanic eruptions.
The Philippines, Vietnam, Indonesia, Malaysia, and Brunei have competing claims over some parts of the South China Sea. Philippines, New Zealand eye forces deal, share concern over South China Sea ...
Position papers range from the simplest format of a letter to the editor, through to the most complex in the form of an academic position paper. [1] Position papers are also used by large organizations to make public the official beliefs and recommendations of the group. [2]