Unformatted text preview: years results over a phase of time of being in consistence. Consistency means that a business uses the similar accounting values and techniques from year to year. Therefore, if a business chooses one inventory accounting technique in the first year of operations, it is likely to keep on using that similar technique in following years. When financial data has been accounted on a consistent basis, the financial statements allow meaningful analysis of trends within a business....
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This note was uploaded on 12/12/2011 for the course ACC 220 220 taught by Professor Aliciahubbard during the Winter '10 term at University of Phoenix.
- Winter '10