What is CONSISTENCY PRINCIPLE?

The idea that once an accounting method is chosen it is followed until the end. If a change is made it must be disclosed and explained. AKA consistency concept. Refer to accounting concepts.

More On This Topic
  1. How To Change The Name Of The Owner On A House Title
  2. Three Conditions Required For Respondeat Superior
  3. How To Patent Your Idea
  4. How to Legally Change Your Name
  5. Is There a Difference Between Attorney-Client Privilege and Confidentiality?
  6. What’s the difference between the insanity plea and incompetency?
  7. What Are The Different Types Of Child Custody?
  8. Grandparent Rights: Everything You Need To Know
  9. How To Legally Change Your Middle Name
  10. How to change your name in California

Related Legal Terms
ACCRUAL PRINCIPLE, CHANGE IN ACCOUNTING PRINCIPLE, MATCHING PRINCIPLE, ACCELERATION PRINCIPLE, SURVIVOR PRINCIPLE, REALIZATION PRINCIPLE, ACCOUNTING CONCEPTS, BENEFIT PRINCIPLE, PRINCIPLE OF SUBSIDIARITY, PRINCIPLE


Link to This Definition
Did you find this definition of CONSISTENCY PRINCIPLE helpful? You can share it by copying the code below and adding it to your blog or web page.
Written and fact checked by The Law Dictionary