What does “Going concern” mean?
"Going concern" means the ability of a business to continue operating in the foreseeable future.
What context can I use the in?
Example
The company's financial statements indicate that it is a going concern.
Example
The board of directors discussed the going concern status of the business.
Example
Investors are concerned about the going concern of the startup
Is “Going concern” an expression, an idiom, or a proverb?
“Going concern” is a proverb. A proverb is a short saying that teaches us something important or gives us advice. Unlike an idiom, it’s easy to understand even if it uses figurative language.
How would I use “Going concern” effectively in context?
You can use "Going Concern" to discuss the ongoing viability and sustainability of a business. It is commonly used in financial and business contexts to evaluate the long-term prospects of a company. Here are three distinct situations where you can use the phrase effectively:
- 1Financial Analysis
The company's financial statements indicate that it is a going concern, with positive cash flows and a strong balance sheet.
- 2Business Meetings
The board of directors discussed the going concern status of the business, considering the potential risks and opportunities in the market.
- 3Investor Concerns
Investors are concerned about the going concern of the startup, as it has been facing significant losses and struggles to generate revenue.
Similar phrases to “Going concern”:
Long-Term Viability
The likelihood of a business to remain successful and profitable in the future
Example
The management team is focused on ensuring the long-term viability of the company by implementing strategic initiatives.
Sustainable Business
A business that can maintain its operations and growth over an extended period
Example
The company's commitment to environmental sustainability contributes to its reputation as a sustainable business.
Good things to know:
Where does the phrase “Going concern” come from?
The origin of the phrase "Going Concern" can be traced back to accounting principles. In financial accounting, a 'going concern' refers to a business that is expected to continue its operations for the foreseeable future. The term is used to assess the financial health and stability of a company.
Is “Going concern” common in everyday conversation?
Yes, "Going Concern" is a common phrase in everyday conversation within the business and financial sectors. It is frequently used by professionals, investors, and analysts to assess the financial stability and future prospects of a company.
What tone does “Going concern” have?
"Going Concern" conveys a tone of evaluation and analysis. It is often used in a neutral or objective manner to discuss the financial health and sustainability of a business.
Can “Going concern” be used in informal and formal settings?
Yes, "Going Concern" is a formal expression primarily used in professional and business settings. It is commonly used in financial reports, meetings, presentations, and discussions related to the evaluation of a company's financial status.
Can it be used by itself, or is it usually part of a sentence?
It is typically used as part of a sentence to convey its full meaning. For example, 'The auditor's report confirmed that the company is a "going concern".' However, in certain contexts, such as informal conversations among professionals, it may be understood even if used alone, like saying 'The "going concern" of the company is uncertain.'
Synonyms & Antonyms
Synonyms
- continuing operation
- ongoing business
- future prospects
- business continuity
- operational sustainability
Antonyms
- liquidation
- bankruptcy
- closure
- cease operations
- shut down
