IFRS Notes

Going concern in question

IAS 10-pr14
Financial statements are not prepared
on a going concern basis,
if the following occurred after the reporting period:

(1) management intends to liquidate
(2) management intends to cease trading
(3) no realistic alternative to liquation

IAS 1-pr25
Financial statements are prepared
on a going concern basis,
unless the following occurred:

(1) management intends to liquidate
(2) management intends to cease trading
(3) no realistic alternative to liquation

IAS 10-pr15
If going concern assumption is not appropriate,
do not prepare financial statements
on a going concern basis.

IAS 1-pr25
If financial statements are not prepared
on a going concern basis,
disclose the following:

(1) financial statements are not prepared
on going concern basis
(2) the basis on which financial statements are prepared
(3) the reason why going concern basis is not appropriate