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Q. What is Consistency?
Consistency in general requires that a company use the same accounting principles and reporting practices through time. This concept disallows indiscriminate switching of accounting principles or methods such as changing inventory methods every year. But consistency doesn't prohibit a change in accounting principles if the information needs of financial statement users are better served by the change. When a company makes a alter in accounting principles it must make the following disclosures in the financial statements (a) nature of the change (b) reasons for the change (c) effect of the change on current net income, if significant and (d) cumulative effect of the change on past income.
Super stockist is one who supply product to n no. of distributor in area. Distributor is one who supply to dealers in the area
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How to create account for barter transactions? As My Company is providing a service to another company and that company is reimbursing us with his service.
what is Accounts payable process?
#quesDance fans switch away from dance music to R&B music AND the price of MP3 players decreases. tion..
TYPES OF FINANCIAL ANALYSIS a) According to the material used, the study can be - i) External analysis : Where analysis is done by exterior interested parties and ii)
An inflated budgeted expense account
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