consistency concept - definition in the Business English Dictionary - Cambridge Dictionaries Online

Cambridge Dictionaries online Cambridge Dictionaries online

The most popular online dictionary and thesaurus for learners of English

English definition of “consistency concept”

consistency concept

noun [S]
 
 
( also consistency principle)
ACCOUNTING a basic principle of accounting stating that the same methods for doing accounts should be used from one financial year to the next so that profits, losses, etc. can be compared: According to the consistency concept, once a business has decided on a particular method for treating an accounting item, it will treat all similar items in the same way in the future.
(Definition of consistency concept from the Cambridge Business English Dictionary © Cambridge University Press)
What is the pronunciation of consistency concept?
Add Cambridge dictionaries to your browser to your website

Word of the Day

decider

a final game or competition that allows one person or team to win, or the winning point scored

Word of the Day

What’s All The Commotion About? (Words to describe sounds)

by Kate Woodford,
May 20, 2015
​​​ In this post we look at a range of words and phrases that we use to describe noise and the absence of noise. Starting with complete quiet, we sometimes use the noun hush to describe silence: A hush fell over the room as the bride walked in./There was a deathly hush (=complete

Read More 

ancestral health noun

May 25, 2015
diet based on the presumed diet of our Palaeolithic ancestors ‘Ancestral health,’ to use a term popular among Paleo followers, has gone mass.

Read More