What is convention of consistency?
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In accounting, the convention in consistency is a principle that the same management accounting principles should be used for preparing financial statements over a number of time periods. This enables the management to draw important conclusions regarding the working of the concern over a longer period.
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In accounting, the convention in consistency is a principle that the same management accounting principles should be used for preparing financial statements over a number of time periods. This enables the management to draw important conclusions regarding the working of the concern over a longer period.
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