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Accounting is the procedure that helps the organization companies to history and continue to keep a monitor from the working day-to-day transaction in a scientific manner. To paraphrase, it may be claimed that accounting is definitely the investigation carried out with the accountant to validate and measure the transactions that occur inside of a business in day by day foundation. The whole process of accounting includes 5 key duties.
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The consistency theory is the concept when an accounting basic principle or process is adopted by an organization it ought to go on for use until finally a far better principle is located.
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