theory help

[sararara565]

Any one know the answer to there:

How does consistency relate to the SACs?

What are three business documents that may be used to satisfy the demands of reliability?

[sararara565]

1 more!

The owner of a small business has stated that cents may be omitted from all balance sheets. State the qualitative characteristic that may support this statement and explain why the business owner may be correct.

[ShortBlackChick]

What do you mean by the first question? Do you mean consistency in terms of accounting principles or consistency in terms of scoring in SAC's?

For your second question, I think any form of Source Document might be the answer. Source Documents like Tax Invoices, Purchase Invoices etc. (Someone- Are they even right? I feel like I've forgotten everything)

Third Question: Relevance is the characteristic I think because the amount is not significant enough to affect decision making with its exclusion or inclusion. Or something like that

[sararara565]

consistency in terms of the accounting principles haha like SACs as in Statements of accounting concepts
the full question is


Why is consistency important to accounting? How does with principle relate to the SAC’s?

[sararara565]

Describe the link that exists between the qualitative characteristic of comparability and the accounting principle of consistency.

[aaackk]

Accounting methods must be consistent so that reports are comparable.