The Expected Impact of Strict Obligation to Apply Going Concern Assumption (GCA) on Enhancing the Entity's Ability to Withstand the COVID-19 Pandemic: Applied Research on Entities that May Exit from the Market in Jordan
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Media type:
E-Article
Title:
The Expected Impact of Strict Obligation to Apply Going Concern Assumption (GCA) on Enhancing the Entity's Ability to Withstand the COVID-19 Pandemic: Applied Research on Entities that May Exit from the Market in Jordan
Contributor:
Owais, Walid Omar;
Abu Fadda, Marwan Mohammad
imprint:
World Scientific and Engineering Academy and Society (WSEAS), 2022
Published in:WSEAS TRANSACTIONS ON BUSINESS AND ECONOMICS
Description:
<jats:p>This study has the aim of looking at the expected impact of strictly obligation to apply going concern assumption-GCA; on enhancing the entity's ability to withstand the COVID-19 pandemic with its consequences and results. It is applied on entities that may exit from the market in Jordan. An electronic questionnaire (online questionnaire) was prepared, established and developed for this purpose and published via Google Form by using the simple random sampling method. A few months later, 399 fully answered electronic questionnaires were received, and the extracted data was analyzed by the Statistical Program for Social Sciences (SPSS), and a number of statistical tests were achieved, namely: the study tool's reliability, structural validity, the test for normal distribution, the Multicollinearity test, the description of the study sample characteristics, and the descriptive statistics for the study tool items. Each of the tests showed positive indicators. The decision making base that states: (If Sig.T > 5% Accept Ho and If Sig.T ≤ 5% Accept Ha) was used, and it was noted from the statistical analysis that: The Sig.T of the first sub hypothesis equals to (0.000). The matter that confirms the acceptance of the alternative hypothesis; (accurate assessment of liquidity risks ‘Assets Risks’, variable had the greatest impact on enhancing the entity's ability to withstand the COVID-19 pandemic). The Sig.T of the third sub hypothesis appoints to (0.000). This proves the acceptance of the alternative hypothesis; (the policy of deconcentration ‘business diversification’, variable came in the second place of effect on enhancing the entity's ability to withstand the COVID-19 pandemic). The Sig.T of the second sub hypothesis equalizes (0.031). This states the acceptance of the alternative hypothesis; (the impact of the accurate assessment of liquidity risks ‘financing risks’ variable came at the third place of effect on enhancing the entity's ability to withstand the COVID-19 pandemic). So, the null state (Ho), of each sub-hypothesis was rejected. The sole recommendation of this study is the strict application of the standards that rule any profession, or occupation, especially in the accountancy occupation.</jats:p>