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Latest On Going-concern Evaluation Of Management Plans And Adequacy Of Disclosures

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Before starting this self study program, please go through the instructional document.


  • Why is the FASB issuing this accounting standards?
    1 mins
  • Who Is affected by the amendments in this update?
    12 mins
  • Why are new provisions an improvement?
    22 mins
  • Definition of substantial doubt
    36 mins
  • Evaluating probability
    54 mins
  • Substantial doubt evaluation threshold
    77 mins

Course Description

Under generally accepted accounting principles (GAAP), a continuation of a reporting entity as a going concern is presumed as the basis for preparing financial statements unless and until the entity’s liquidation becomes imminent.

If and when an entity’s liquidation becomes imminent, financial statements should be prepared under the liquidation basis of accounting.

Even if an entity’s liquidation is not imminent, there may be conditions or events that raise substantial doubt about the entity’s ability to continue as a going concern.

This online continuing education session will help you determine what guidelines should be followed to determine whether to disclose information about the relevant conditions and events.

In this online CPE webinar following major topics are covered:

  • Understand the effects of a going-concern audit note.
  • Know the levels of disclosure.
  • Review the principal conditions or events leading to “substantial doubt.”
  • Management’s evaluation of the entity’s ability to continue as a going concern. 
  • Management’s plans to mitigate liquidation risk.
  • Liquidation-based accounting rules.
  • Required disclosures.

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Learning Objectives

  • Get up to date on the latest GAAP updates for going concern issues.
  • Recognize when there is a going concern that needs attention.
  • Identify the signs of substantial doubt.
  • Review the steps the auditor must take.
  • Implement liquidation-based accounting.
  • Develop strategies for dealing management evaluations.
  • Understand the timing and frequency of going-concern evaluations.
  • Prepare necessary disclosures.

Who Should Attend?

  • Accounting and audit managers/practitioners
  • Accounting Firm
  • Accounting Managers
  • Accounts Director
  • Auditors
  • Business Owner
  • CEO
  • Certified Management Accountant
  • CFO/Controller
  • Chief Accounting Officer
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Staff of Accounting Firm
  • Young CPA