Consistency
Consistency is the accounting principle that requires companies to follow the same accounting methods or procedures from period to period.
Definitions
According to College Accounting: A Practical Approach by Slater (13th edition),
- Consistency. The accounting principle that requires companies to follow the same accounting methods or procedures from period to period.
According to the Corporate Strategy by Lynch (4th edition),
- Consistency. Strategy evaluation criterion associated with the strategy being in agreement with the objectives of the organization.
Related concepts
- Accounting (alternatively known as accountancy) is management of financial data, information, and knowledge about financial transactions of legal entities. Accountancy tends to include bookkeeping and, depending on a particilar enterprise, may also include quatitative analysis of financial data in the bookkeeping system and/or business intelligence.
According to the Strategic Management by David and David (15th edition),
- Consistency. A way to evaluate strategies, i.e. to determine if a particular strategy is supportive of overall strategies/objectives/policies of the firm.
