In a prior post by Lynn Rees regarding fees assessed on health insurers, the issue turned on what it means to be a going concern.  Recently, Audit Analytics released a report on going concern trends.  You can get the highlights in this CFO article.  Interestingly, the number of new qualifications is down again this year.  So auditors seem to be thinking the companies that still exist are likely to continue.  The full report can be purchased at another website (about $79).

This got me thinking – I know that the standards I teach in intermediate and theory assume going concern.  What special accounting treatments are necessary when a company is not a going concern?  Do we have special GAAP for debtor-in-possession companies?  I think I feel a search of the codification coming on.  Although perhaps this GAAP is tied to bankruptcy law and therefore not found in FASB guidance.  Any ideas?