FASB issues guidance on going concern
Posted by mostafa on 27 August, 2014
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The US Financial Accounting Standards Board (FASB) has issued ASU 2014-15, ‘Disclosure of Uncertainties About an Entity’s Ability to Continue as a Going Concern’, which provides guidance on determining when and how to disclose going-concern uncertainties in the financial statements. A similar project of the IASB could not be completed yet.