Time-Period Principle
AKA (Principle of Consistency) is a GAAP that states that states that a company should set and consistently use the same Fiscal Period
But why?
It allows them to compare Financial Statements for similar periods of time
AKA (Principle of Consistency) is a GAAP that states that states that a company should set and consistently use the same Fiscal Period
It allows them to compare Financial Statements for similar periods of time