Going concern and subsequent events.

• Position: News&trends

FASB issued two related Exposure Drafts for public comment: Going Concern and Subsequent Events.

The proposal on going concern would require management of a reporting entity to consider all available information about the future, which is at least, but not limited to, 12 months from the end of the reporting period, when assessing whether a going concern assumption is appropriate. It also would require disclosures when either the financial statements are not prepared on a going concern basis or there is substantial doubt as to an entity's ability to continue as a going concern.

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The proposal on subsequent events establishes general standards of accounting for, and disclosure of, events that occur subsequent to the balance sheet due...