Question

explain the important of accounting principle
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Answer 1

Explanation:

Accounting principles are important because they establish a consistency that allows for more accurate and efficient viewing of company statements and reports.Accounting principles ensure that companies follow certain standards of recording how economic events should be recognised, recorded, and presented. External stakeholders (for example investors, banks, agencies etc.) rely on these principles to trust that a company is providing accurate and relevant information in their financial statement.

Answer 2

Answer:

Accounting principles are important because they establish a consistency that allows for more accurate and efficient viewing of company statements and reports.Accounting principles ensure that companies follow certain standards of recording how economic events should be recognised, recorded, and presented. External stakeholders (for example investors, banks, agencies etc.) rely on these principles to trust that a company is providing accurate and relevant information in their financial statement.

Explanation: