what is the meaning of consistency in accounting
Convention of consistency In accounting, the convention of consistency is a principle that the same management accounting principles should be used for preparing financial statements over a number of time periods.[1][2] This enables the management to draw important conclusions regarding the working of the concern over a longer period.[3] It allows a comparison in the performance of different periods. If different accounting procedures and processes are used for preparing financial statements of different years then the results will not be comparable because these will be based on different postulates.
Capability Maturity Model Integration Maturity Level 5 - Optimizing
Invoice processing Once the invoice has been approved and there have been no variances, the invoice is posted into the accounting system.[1][2][3][4]
Continuous or discrete variable A continuous variable is one which can take on infinitely many, uncountable values.