Showing posts with label going concern. Show all posts
Showing posts with label going concern. Show all posts

Monday, May 28, 2012

The going concern question

I just got an email about Friday’s accounting exam, which was #3 out of four exams we will take in total. I got a 94%! I did feel really good about that exam, so I’m glad I got such a good grade. At this time I am reminded of a conversation that took place just minutes after the exam as I sat on a couch in the entrance to the campus library. A guy in my accounting class approached me, and I had never spoken with him before.

GUY: Hey.

I looked up.

GUY: How’d you feel about the exam?

ME: Pretty good.

GUY: The thing that tripped me up was that general...assumption question.

ME: Um...the going concern question?

GUY: Yeah, that one. What is that?

ME: That’s the thing that says that a company can survive. That they have the ability to pay off their debts. They’re a going concern if they can pay off their debts.

GUY: Ohhhhhhh. Okay.

ME: Yeah.

GUY: Alright, well...see ya later.

And that’s pretty much it. It was probably the third time someone in one of my classes approached me and randomly struck up a conversation about something in the course material. Is this a Logan thing? I don’t mind it at all. I guess if anything, it’s flattering. I do ask a lot of questions in class, so maybe I give the impression that I know the material.