In other words, the going concern assumption is in the purview of generally accepted auditing standards, but not generally accepted accounting principles.
What does GCA stand for?
GCA stands for going concern assumption
This definition appears somewhat frequently and is found in the following Acronym Finder categories:
- Business, finance, etc.
See other definitions of GCA
We have 277 other meanings of GCA in our Acronym Attic
- Giant Cell Arteritis
- Gilles Charignon Architectures (French architecture firm)
- Ginet Courtage d'Assurances (French insurance brokerage)
- Glasgow Christian Academy (Glasgow, KY)
- Global Climate Agency (Switzerland)
- Global Coalition for Africa
- Global Communications Agency
- Glycocholic Acid
- GNOPP Constrained Assets
- Goa Cricket Association
- Gold Circle Award (various organizations)
- Golf Clubmakers Association
- Government Contracting Activity
- Government Controlled Area
- Grace Christian Academy
- Grade Correspondence Analysis (data clustering)
- Graduate Cost Analysis
- Grains Council of Australia
- Grant Contract Accounting (various organizations)
- Graphic Communications Association
Samples in periodicals archive:
Our conclusion from our evaluation is that we do not have sufficient appropriate audit evidence to conclude whether the directors' use of the going concern assumption is appropriate in the circumstances.
Material Events Regarding Going Concern Assumption In fiscal 2009, conditions gave rise to material uncertainty about Pioneer"s ability to continue its business activities into the future, due to deterioration in its financial position, resulting from a sharp drop in operating revenue, large losses and significant net cash used in operating activities.
Issues such as the risk associated with Northern Rock and Bradford and Bingley and their business models, for example, specifically aid the illustration of the going concern assumption given serious questions over the validity of such models.
The financial statements include a going concern assumption note as the corporation's ability to continue operating as a going concern is dependent on its raising additional financing and achieving a profit on its business.