The consistency concept allows a company use different accounting methods from period to period in order to maximize profits.

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The consistency concept requires a company to use the same accounting methods from period to period to ensure that financial statements are comparable and reliable. This principle helps investors, creditors, and other stakeholders to make informed decisions based on accurate financial information. Using different accounting methods from period to period to maximize profits would violate the consistency concept and undermine the integrity of financial reporting.

The Consistency Concept Allows a Company Use Different Accounting Methods