Finance
Going concern
Formal definition
Going concern is a charity finance term for planning and monitoring financial resilience against delivery risk and income volatility.
What this actually means for you
Finance leads and budget owners should treat Going concern as an operating standard: set thresholds, review actuals versus plan, and escalate deviations before they become funding gaps, then review it at month-end and before trustee reporting cycles.
Example: In a live quarterly cycle, Going concern is applied like this: budget owners review forecast deltas each month and agree corrective actions before trustee pack deadlines. The team then records the decision trail in team templates, reporting packs, and operating checklists.
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