going concern concept

The going concern concept does not apply since it can be assumed that, absent law to the contrary, all authorities will exist into the foreseeable future.

Continuity (the going concern concept)

The going concern concept is not clearly defined anywhere in generally accepted accounting principles, and so is subject to a considerable amount of interpretation regarding when an entity should report it.

Tutors may wish to explore the effects of uncertainty such as the business closing down, or no longer needing the premises for other reasons, and use this to introduce the idea of the going concern concept.