Question

what is consistency concept of accounting principals??? help me its urgent.

Answer 1

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Consistency concept is the main accounting principle. The financial reports of going concern portray not only the current status but also provide the progress over the proceeding period.

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To be effective financial reports require consistency in the applications of the methods of accounting term from year to year.

FASB define consistency as "" Conformity from period to period with unchanging policies and procedures.. "" "..

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:-))

Answer 2

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