The going concern concept is explicitly stated in the IFRS conceptual framework but is only implicit in the U.S. GAAP conceptual framework.

Name: The going concern concept is explicitly stated in the IFRS conceptual framework but is only implicit in the U.S. GAAP conceptual framework.
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The IFRS explicitly includes the going concern assumption in its conceptual framework, while in U.S. GAAP, it is more of an implicit assumption rather than explicitly stated in the conceptual framework.

The Going Concern Concept Is Explicitly Stated in the IFRS