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ASU 2014-15 (FASB ASC 205-40) Going Concern

On August 27, 2014, the FASB released Accounting Standards Update (ASU) 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. This ASU amends FASB Accounting Standards Codification (FASB ASC) 205-40, Presentation of Financial Statements—Going Concern, to provide guidance about management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern and to provide related note disclosures.