Definition - What does Going Concern mean?
Going concern is the idea that the value of a business should be based on the assumption that it will continue to function as intended and that it won't face any liquidity concerns in the near future. Going concern is a basic and important assumption used in accounting in the preparation of the financial statements of an entity.
Justipedia explains Going Concern
Contrary to common perception, the going concern assumption was never formally incorporated into U.S. General Accepted Accounting Principles (GAAP). In accounting, nearly every business entity that is not going to liquidate its assets and will be continuing operations in the near future is regarded as going concern. The general purpose financial statements of a company are prepared using the assumption unless the majority shareholder in the entity wishes or is forced to stop its operation or liquidate its assets.