"Going concern" refers to the presumption that a company will continue to operate for the foreseeable future. Some synonyms for "going concern" include "operational continuity," "ongoing existence," and "persistent operation." Other terms that are often used to describe this concept include "business sustainability," "longevity," and "continued viability." In the world of financial reporting, "going concern" refers to a company's ability to meet its financial obligations and pay its debts over an extended period of time. Ultimately, the term is used to assess whether a company is financially stable enough to continue operating in the long-term.