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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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12y ago

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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


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.


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.


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

congruence


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 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


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

Save time consistency and orgranize


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

"The concept of competitive advantage is as important for non-profit organizations as it is for profit organizations". Do you agree with this statement or not? Explain with examples to justify your answer. "The concept of competitive advantage is as important for non-profit organizations as it is for profit organizations". Do you agree with this statement or not? Explain with examples to justify your answer.


What are efficiencies?

efficiency is defined as the concept of mechanical advantage and velocity ratio.