what accounting principle would changing accounting methods violate?
Changing accounting methods would violate the principle of consistency, which is a fundamental accounting principle. Consistency means that once a company chooses an accounting method, it should continue to use that method for similar transactions in the future. This principle ensures that financial statements are comparable across different periods and companies.
To determine which accounting principle changing accounting methods would violate, you would first need to understand the specific accounting method being changed. Then, you would need to consider if the change in accounting method is in line with the principle of consistency.
To find information on accounting principles, you can refer to accounting standards and guidelines, such as the Generally Accepted Accounting Principles (GAAP) or International Financial Reporting Standards (IFRS). These standards outline the principles and rules that companies should follow when preparing financial statements. Consulting authoritative sources such as accounting textbooks, professional accounting organizations, or the official websites of standard-setting bodies can also provide detailed explanations of accounting principles.