Full disclosure principle

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Full disclosure principle is the accounting principle that requires companies to fully disclose on their financial reports changes in accounting procedures and methods along with effects of the change as well as justification for change.


Definitions

According to College Accounting: A Practical Approach by Slater (13th edition)‎,

Full disclosure principle. The accounting principle that requires companies to fully disclose on their financial reports changes in accounting procedures and methods along with effects of the change as well as justification for change.

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