CONSISTENCY PRINCIPLE requires accountants to apply the same methods and procedures from period to period. When they change a method from one period to another they must explain the change clearly on the financial statements.
AR is Accounts Receivable.
COLLECTIVE INVESTMENT SCHEME, globally, is any arrangement for pooling several investors funds so that the pooled fund can obtain economies of scale and a spread of investments beyond the reach of individual investors. It is usually called an investment company in the U.S.A.
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