GOING CONCERN ASSUMPTION/CONCEPT CLASS 11 CH-3 | ACCOUNTING PRINCIPLES | THEORY BASE OF ACCOUNTING

Class 11 Accountancy
Chapter- 3 Theory Base of Accounting, Accounting Standards and Indian Accounting Standards (Ind-AS)
Topic- Accounting Principles.
1st Principle: Going Concern Assumption

Going Concern Assumption says that transactions should be recorded and reported on the basis that business should continue for a foreseeable future and there is no intention to close the business or scale down its operations significantly.

We have explained the meaning of Going Concern Assumption in detail in this video with example.
Watch full video to understand the meaning of Going Concern Assumption in detail.
Perfect for Class 11 Accountancy students! 📉✨
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