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The term "going concern" is fairly standard terminology in the accounting world. I'm quite amazed more people haven't come across this term. It's certainly used
by teh_klev 10y ago
The term "going concern" is fairly standard terminology in the accounting world. I'm quite amazed more people haven't come across this term. It's certainly used heavily in the UK when discussing whether or not a business is able to function or not.
For example, "we bought the business as a going concern" would be its use in a typical sentence.
- cat199 10y ago... USian here who has lived in the UK - My gut feeling is that these days the phrase is used more commonly in the vernacular in the UK than the US, with US usage being much more restricted to the pure 'business' professions (e.g. managers, accountants, etc), and not so much elsewhere. Common day-to-day usage to express same would tend more towards more nebulous or incorrect terms as 'successful/profitable business' or perhaps 'liquid/insolvent', or something like that.
- wccrawford 10y agoUSian here, born and raised. It's definitely "business speak", but I'm surprised anyone with a job like programming doesn't know it. Prior to this, I would have assumed that basically anyone would know the phrase.