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Refers to the ability of an organisation to pay its debts as they fall due. An organisation which is able to do so is a going concern. One of the key assumptions underlying the general preparation of financial statements is that they are prepared on the basis that the organisation is a going concern.

Source Publication:
Effects of European Union Accession, Part 1: Budgeting and Financial Control, OECD SIGMA Paper No. 19, March 1998, Appendix 3: List of Useful Terms + investopedia.com.


Statistical Theme: Public management

Created on Wednesday, August 7, 2002

Last updated on Wednesday, June 12, 2013