Provide a Definition for Each of the Following Accounting Principles

question 169

Essay

Provide a definition for each of the following accounting principles.
$$\begin{array} { | l | l | } \hline \text { Accounting Principle } & \text { Definition } \\\hline \text { Consistency } & \\\hline \text { Conservatism } & \\\hline\end{array}$$

---

Definitions:

Knowledge Potential

The capacity or ability of individuals or organizations to acquire, develop, and utilize knowledge for innovation or improvement.

Performance Management

A systematic process by which an organization involves its employees in improving organizational effectiveness through objective setting, feedback, and coaching.

Leadership Development

The process of training and developing skills in individuals to enable them to lead teams, projects, or organizations effectively.

Goal Setting

The process of identifying specific, measurable, achievable, relevant, and time-bound objectives that motivate and guide individuals or organizations.