CONSISTENCY CONCEPT
consistency concept: translation
consistency concept conˈsistency ˌconcept noun [singular]
ACCOUNTING one of the basic principles of accounting, which says that there should be consistency in accounting methods
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consistency concept UK US noun [S] (also consistency principle)
► ACCOUNTING »
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.