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- Easier to understand (saves time so money)

- Users know what to expect.

- Generates trust an reliability to customers.

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Q: What are the advantage of consistency concept?
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Related questions

Hoe does the concept of consistency aid in the analysis of financial statement?

How does the concept of consistency aid in the analysis of financial statements? What type of accounting disclosure is required if this concept is not applied?


The concept of personality most clearly embodies the notion of?

behavioral consistency


The application of the concept of consistency is essential if users are to rely on financial statements?

yes


Consistency between one's self-concept and one's experience is called?

Congruence.


How does concept of consistency aid in the analysis of financial statement?

In accountancy, the concept of consistency refers to using the same accounting methods each year. This ensures that the financial statements for each year can easily be compared with each other.


How does the concept of consistency aid in the analysis of financial statement?

In accountancy, the concept of consistency refers to using the same accounting methods each year. This ensures that the financial statements for each year can easily be compared with each other.


What type of accounting disclosure is required if consistency concept is not applied?

In accounting the consistency concept means that when a method of accounting is adopted it must be used consistently in the future. If the policy for accounting is changed in any way the nature of the change, the effects the change has on items in the financial statement and the reason for making the change must be fully disclosed by the business. If the consistency concept is not applied then disclosure of changes are made at the discretion of the business.


What type of accounting disclosure is required if the concept of consistency is not applied in the analysis of financial statement?

check your answer


The concept of competitive advantage is as important for non-profit organizations as it is for profit organization?

The concept of competitive advantage is as important for non-profit organizations as it is for profit organization?


What is a major advantage of automated forensics tools in report writing?

Save time consistency and orgranize


What is the advantage and Disadvantages of selling concept?

increase in market share


What is logical consistency?

Logical consistency means that concepts share a logical framework; one idea makes sense given another. The concept that you need an umbrella because it looks like rain is logically consistent. The concept that you need an elephant because it looks like rain is logically inconsistent.