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Going concern (1)
GOING CONCERN (1)

Definition: A business that is able to continue successfully.
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* All nine elements would be in.


1. Purposeful and necessary for entity to remain in business.

2. Fulfils and performs, its legal and corporate, obligations and social responsibility.

3. Able to retain patronage or customer base in a honest way.

4. Well managed or efficiently run - keeps pace with inflation, survives the competition, plugs the loopholes that can lead to mismanagement or embezzlement, boosts the local economy, etc.

5. Maintains a sound relationship with its (the) labour force.

6. Regularly benefits proprietors, shareholders, employees, etc.

7. Will not need to be merged with a similar business, even if the company's name will be changed later. (To emphasize.)

8. Success will be reflected in real growth: stronger balance sheet, increased capitalization, improved and secured investments, etc.

9. Has a good succession planning and insurance strategy in place. And so will not be wound up, file for insolvency or bankruptcy, etc.
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