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What is Consistency Principle?
Using the same accounting methods period after period so results are comparable.
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Simple Definition
Consistency means an entity applies the same accounting policies from one period to the next unless a change is justified and disclosed.
Explanation level
Tap a persona to hear the same idea in a totally different voice.
Try “Like I'm 5™” for a picture-book version - not the grown-up wording above.
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