Abstract:The currently accepted set of accounting principles and practices have been formulated such that the length of the accounting period, a non‐economic variable, has been incorporated into the accounting system as an independent variable. Accounting reports are, therefore, temporally non‐additive ‐ they will not add up over time. Interim reporting has become increasingly important in recent times. Interim reports for any period other than one year cannot articulate with the annual report unless temporal additivit… Show more
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