XSIQ
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Accounting - Accounting Principles: Diversity
Diversity
Allows for the fact that no two firms are the same and therefore may use
different accounting methods.
The owner decides that because the business down the road uses the
straight line method of depreciation his or her business should do the
same.
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Familiar with the disclosure statement.
i like the theory of diversity which can apply to almost evrything in the business....we have to post differently like the owner, liablities and assets of the business
there should be CONSISTENCY within a firm but DIVERSITY between different firms
Allows for the fact that no two firms are the same and therefore may use different accounting methods.