consistency concept

noun [S] (also consistency principle)

Definition

› 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 noun from the Cambridge Business English Dictionary © Cambridge University Press)