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What type of accounting disclosure is required if consistency concept is not applied?
Wiki User
∙ 9y ago
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.
Wiki User
∙ 9y ago
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What type of accounting disclosure is required if the concept of consistency is not applied in the analysis of financial statement?
check your answer
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?
What type of accounting disclosure is required if consistency is not apply?
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.
Is the adequate disclosure accounting concept is applied when financial statements contain all information necessary to understand a business's financial condition?
yes, yes it is
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In the one voice one look consistency, this consistency is applied only to marketing and improving the brand's image. Strategic consistency is the focus on applying that voice to all aspects of the company's communications, including internal messaging.
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"Disclosure" is one of those words in the legal lexicon which can have a multitude of meanings depending on how it is used or how it is applied. When the disclosure referred to is set forth in a document, then that document becomes a disclosure document. See below link for a discussion of meaning of the word disclosure:
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